In 2023, Canada witnessed a significant rise in immigration, granting permanent residency to over 62,000 international students, a surge of nearly 10,000 from the previous year, as per Immigration Refugees and Citizenship Canada (IRCC) data. The largest cohort seeking permanent residency comprised Indians, despite a 4% decline in permits due to diplomatic tensions.
Most of these students obtained permanent residency by gaining post-graduation work experience through the Post Graduation Work Permit (PGWP). Additionally, 23,150 international students secured PR directly after graduation through Provincial Nominee Program (PNP) streams.
Despite discussions on potential caps amid a housing crisis, the numbers remained substantial, raising concerns about housing affordability and living costs.
Foreign students, non-permanent residents, and temporary foreign workers significantly influence Canada’s demographic growth. Immigration Minister Marc Miller acknowledged challenges, hinting at potential reforms, including caps on non-permanent resident intake.
Concerns about economic repercussions were raised, with Desjardins Securities warning that restrictions on temporary workers and foreign students could impede Canada’s economic recovery, potentially causing a 0.7% drop in real GDP in 2024 and slower growth in the following years.
The Express Entry Program emerged as the fastest pathway for international students to transition to Canadian permanent residence. Despite a 4% decline in permits, approximately 330,000 new immigrants and students from India were residing in Canada by 2023, contributing to the country’s diverse and dynamic landscape.
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