Building Back Victoria Going in the Right Direction

New data from May, June and July this year shows continuation of the economic recovery in the City and the downtown.

“We released the first series of the economic recovery data three months ago to show Victorians the story the numbers tell in terms of our City’s recovery from this pandemic,” said Mayor Lisa Helps. “The new data we are releasing today shows a clear indication of growth since last year in everything from the number of visitors to the downtown to a significant increase in construction permit values in the city. This is tremendous for our small businesses.”

The data indicates that actions laid out in Victoria 3.0 Recovery, Reinvention and Resilience are working to support small businesses, including a 55 per cent increase in newly issued business licenses. The ongoing work of the City’s Business Hub continues to make it easier to do business in Victoria.

“I am glad there’s an increase in the data since last year, especially in the downtown pedestrian count,” said Jeff Bray, Executive Director, Downtown Victoria Business Association. “When more people were working from home, it really emptied out the streets and hit the downtown businesses hard. I am hopeful that we can get back to our pre-pandemic numbers.”

“Tourism is a dynamic sector that contributes to the city and region is so many ways. When the industry was hit hard by the pandemic, the repercussions were felt throughout the community,” said Greater Victoria Chamber of Commerce CEO Bruce Williams. “The City’s Economic Action Plan advances solutions for partnering with business to help tourism recover — especially with the latest data showing reasons for optimism with growth in hotel occupancy, film permits and special events.”

“The Visitor Economy is seeing modest but sustained recovery in the accommodation sector.  Victoria experienced a good summer from the one source market available to us, the Canadian domestic market,” said Paul Nursey, CEO, Destination Greater Victoria. “However, we must stress, in spite of these very encouraging preliminary signs, that recovery is uneven and not all businesses are recovering at the same pace. Recovery will be a multi-year process. Destination Greater Victoria will continue to work with its partners to ensure that recovery is wide and deep across all segments for sustained vitality.”

The City will release data on these indicators quarterly over the next few years to track Victoria’s economic recovery. For more information on the economic recovery dashboard, visit victoria.ca/EconomicDevelopment.