Montreal among the most connected cities on the international scene in North America
10 May 2018
Montreal has become one of the most connected cities on the international scene in North America, shows a vast study obtained by TVA Nouvelles according to which the international market occupies a more important place than ever in the economy of the metropolis.
These results are a delight for Michel Leblanc, President of the Board of Trade of Metropolitan Montreal, and Hubert Bolduc, President and CEO of Montreal International.
The first propels our companies abroad, the other attracts foreign companies in the metropolis.
According to the study, the city ranks among the most connected on the world economy, behind Houston and Boston, but ahead of New York and Washington.
"The more connected a city is internationally, the higher its collective wealth and the higher the household wealth," said Hubert Bolduc.
Connectivity is measured by several criteria, including import-export, investment, immigration and technology.
"International or foreign companies represent only 1% of the total number of companies present, but they account for 10% of employment. Nearly 200,000 people work for foreign companies, "said Mr. Bolduc.
In three years, foreign investment has doubled in Montreal and our businesses are turning more and more internationally. The picture of the economy has changed and the effects are being felt.
The growth of the Montréal economy is accelerating today, in large part because it is being transformed by the technology sector and its 5,000 businesses.
"In 20, 30 years, we will perhaps be one of the most powerful places on the planet because of this niche, because of this cluster," said Michel Leblanc.
"Today, what we notice is that investments go where there is talent. And Montreal has a lot of talent, "continued Mr. Bolduc.
Now, how to improve Montréal's international growth? The question will be the subject of reflection at a forum organized this Friday by Montreal International, the Chamber of Commerce and Investissement Québec.