October 2011

Business Environment


Economic update - third quarter 2011

The global economy has certainly been put to the test in 2011. Growth prospects have been called into question on multiple occasions since the beginning of the year due to increased public debt, geopolitical tensions, natural catastrophes and the risk of economic overheating in the emerging countries.  Despite these various bumps and jolts, the Canadian economy held steady, with GDP up 0.3% in July-the largest increase since January.

In line with the Canadian economy, the Quebec City census metropolitan area (CMA) managed to excel despite the gloomy global outlook. Although the region is not completely immune from international events, it has certain characteristics that enable it to stay focused on growth. Real GDP was up 0.3% in the second quarter thanks to the fine performance of the services and construction sectors. Growth is expected to continue in the third quarter, thanks to a solid job creation record (14,600 jobs added in the third quarter) and a large number of major projects already under way.


Smart 21 : Quebec City ranks among the smart elite!

Smart 21 : Quebec City ranks among the smart elite!

Quebec City has been named one of the world's 21 "Smart Communities" for the second year in a row. This award is presented by the Intelligent Community Forum (ICF), an independent New York City-based think tank dedicated to developing the digital economy. The announcement was made by Louis Zacharilla, one of the ICF's founders, at a ceremony in Eindhoven, Netherlands. Applications from some 400 cities and regions were evaluated.

Each year, the ICF selects a theme to guide the process of determining the "Smart 21 Community" members, as well as the winner of the "Intelligent Community of the Year" award. For the 2012 edition, ICF selected the theme of "Intelligent Communities: Platforms for Innovation". The ICF will be focusing on that criterion as it seeks to discover which of the world's cities and regions have created a unique and profitable innovation context for their local communities.


Quebec International and the Quebec City region among the winners in Site Selection magazine’s Canadian rankings

Quebec International (QI) and the Quebec City region are shining brightly again thanks to their placement in Site Selection magazine's Canadian rankings. The Quebec City region placed third in the Top Canadian Metros. This category evaluates the economic performance of Canada's metropolitan regions. The final result was calculated by compiling major investment projects. The Quebec City region was outpaced by Toronto and Hamilton.


Forbes' Best Countries For Business: Canada ranks #1

Forbes' Best Countries For Business: Canada ranks #1

Canada ranks No. 1 in our annual look at the Best Countries for Business. While the U.S. is paralyzed by fears of a double-dip recession and Europe struggles with sovereign debt issues, Canada's economy has held up better than most. The $1.6 trillion economy is the ninth biggest in the world and grew 3.1% last year. It is expected to expand 2.4% in 2011, according to the Royal Bank of Canada.


New investment to develop the wireless internet network in Quebec City.

Quebec government officials are proud to announce a $250 000 contribution to Zap Québec . This nonprofit organization aims to make Quebec City a free, wireless internet access zone.