According to Canada’s immigration data, exactly 62410 of them became permanent residents of the country in the year 2023 even after Canada put restrictions on the arrival of International students amidst the growing housing crisis. As per the data by the Immigration Refugees and Citizenship Canada of November 2023, initially, this number was 52740 who became international students in 2022. As per the immigration experts, most of Canada’s population growth consists of foreign students, non-permanent residents, and temporary foreign workers.
Last week the immigration minister announced that the number of international students and temporary students entering the country will be closely analysed as the government is facing issues such as housing affordability and a rise in the cost of living.
It has been predicted by the capital market company that the country’s real time GDP will drop by 0.7 percent in 2024 and will grow by an average of 1.78 percent per year over the years.
There are many ways by which foreign students can get transitioned into permanent residency but the fastest among all is the express entry program. The number of permits issued to the Indians has declined by four percent in the past year due to some diplomatic reasons but still, they are found to be the largest group. As of 2023, around 330000 new immigrants and students are living in Canada from India. However, it has been suggested by Montreal-based securities that closing doors for temporary workers and foreign students inside Canada would affect the country’s economic recovery.