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Saskatoon economy continues to improve post-pandemic, data shows

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Saskatoon economy continues to improve post-pandemic, data shows

By
Montana Getty


Global News

Early Newspaper

Posted October 10, 2021 4: 56 pm

Saskatoon’s economic recovery has risen to nearly 80 per cent, with Saskatoon Regional Economic Development Authority (SREDA) economic recovery tracker numbers looking promising in all sectors.

The increase has shot up this quarter compared to last, when it was sitting at just 67 per cent.

Nine out of 15 economic sectors are fully recovered, meaning their economic statistics are back to where they were pre-pandemic.

This includes active businesses, retail and manufacturing shipments.

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“It’s very positive news, it really helps consumer confidence, that leads to consumer spending and that will help the economy as well. So I think to see this upper trend getting close to 100 per cent recovered is really good news for the economy and everyone who lives here,” said Alex Fallon, CEO of Saskatoon Regional Economic Development Authority (SREDA).

Hospitality areas, such as travel and tourism, are still in need of economic relief, though.

Hotel occupancy was nearly at 100 per cent in August, but occupancy can change with seasonal demand.

© 2021 Global News, a division of Corus Entertainment Inc.

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Saskatoon economy continues to improve post-pandemic, data shows