The COVID-19 Pandemic had an uneven impact on the City of Nanaimo’s economy.
Nanaimo’s State of the Economy report says the pandemic affected different sectors in different ways.
However, Nanaimo is performing generally well by most economic indicators and the city’s growth rate is outpacing Vancouver Island, the province, and even Canada’s averages.
Nanaimo surpassed the 100,000 residents milestone in 2020with a population growth of 22 percent since 2011.
The report finds that despite an increase in units, the rental vacancy rate dropped to one percent.
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There is a huge demand for affordable independent senior living spaces.
You can read the full report on the City of Nanaimo’s website.
