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British Columbia contains over 4 million people, with roughly half the population living in the city of
Vancouver. Vancouver is the largest city in the province and third largest in Canada, with a population of approximately 600,000 within the city proper. The Greater Vancouver region contains nearly 2 million people.
With its Pacific Rim location, Vancouver boasts a unique position as a major hub for industry and business in western North America. The Port of Vancouver trades over $43 billion in goods with more than 90 trading economies annually, and ranks first in North America for total foreign exports. Vancouver is also known for its film and television industry, its position as a headquarters for many companies, and for burgeoning arenas such as software development and biotechnology.
British Columbia’s economy historically relied upon the many natural resources within the province. Due to environmental concerns, the scale of some resource extraction has been lessened. Currently, the Pacific Province contributes approximately half of Canada’s timber from its vast forests. As a result, several affiliated products and industries exist in the province, such as wood, pulp, and paper manufacturers. These industries comprise much of British Columbia’s economic assets.
The Pacific Province also provides considerable mineral wealth. Copper and coal are principal, as well as oil, natural gas, zinc, silver, iron, lead, and nickel.
British Columbia is the top province for fishing, and relies upon species such as salmon, shellfish, groundfish, halibut, and herring. Marine plants are also grown and harvested here.
While there is little available land for agriculture, the province does produce important agricultural products, and benefits from the richness of the land. Livestock and dairy, vegetables, fruits, and flower bulbs all contribute to the economy. The Okanagan Valley also boasts an excellent climate for growing grapes, contributing to wine production.
The province relies upon its comparatively mild climate in Canada, its spectacular scenery, and both cosmopolitan and outdoor destinations for a strong tourism industry.
British Columbia boasts a good quality of life for its residents, particularly in health care spending. In 2005, British Columbia claimed a personal disposable income per capita of $23,732, slightly below the national average; however, the trend demonstrates a rapid increase in this rate compared to the rest of Canada. Housing costs rank among the highest in Canada, with costs of home ownership taking up 20.4 percent of total household spending on shelter. British Columbia’s unemployment rate was 4.8 percent in 2006. Job growth in the province continues to improve at a rapid pace. There is a 7 percent social service tax, or retail sales tax, for most taxable purchases and services in the Princess Province. The province is consistently ranked as having a fine quality of life; Vancouver itself is ranked among the top cities in the world.
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