"
When we
move into 2025,
I think we'll
see some of
the fruits of
those [northern
megaprojects]
coming
through."
31
BC BU S I N E S S .C A
J A N U A R Y
2 0 24
Potential catalysts:
wait for it
There are still a few causes for optimism
in 2024 and beyond. In the mineral
exploration sector, there is ever more
interest in critical minerals essential to the
energy transition, including copper, nickel
and cobalt. While trade negotiations with
India have been put on hold following
the diplomatic spat over the murder of
Sikh activist Hardeep Singh Nijjar in June,
the trade agreement Canada concluded
with South Korea in 2014 is providing new
export opportunities, for B.C. fruit and
berry growers, for example. And there are
ongoing investments taking place in life
sciences and cleantech.
Looking beyond this year, Central 1's Yu
expects the picture to brighten. "When we
move into 2025, I think we'll see some of
the fruits of those [northern megaprojects]
coming through," he says.
LNG originating
in B.C. will give exports and productivity a
shot in the arm while spurring natural gas
production in the Northeast. Meanwhile,
falling interest rates and pent-up demand
should revive the housing market.
Anderson points to high-profile sport-
ing events, including this year's Grey Cup,
the Invictus Games in 2025 and the 2026
FIFA World Cup, as chances to burnish
B.C.'s brand. "We're going to have the eyes
of the world upon us over the next few
years and we have a real opportunity to
showcase our strengths," she says.
