According to recent population projections, over the next 25 years British Columbia will lead all provinces in population growth, reaching 7 million residents by the year 2036 [Vancouver Sun]. That translates to an additional 2.5 million people in beautiful British Columbia (is that still the slogan?). Now, I’m projecting that approximately 1.3 million more people will call the Lower Mainland home, reaching closer to the 4 million mark (The Lower Mainland is expected to hit 4 million by 2040). The rest will be dispersed between the Fraser Valley, Okanagan and Greater Victoria region.
Most of the additional growth (additional to immigration) will come from retiring baby boomers looking for a warmer climate to spend their golden years, before the inevitable. The Okanagan and Victoria will see the greatest influx of baby boomers. Furthermore, this means our healthcare costs will just keep getting greater, if you thought healthcare costs are insane right now, wait until this all plays out. So expect more taxes.