A new report from the Business Council of British Columbia called the Prosperity Index is aimed at determining whether overall living standards in B.C are improving over time, and offering insights on how to improve them.
The index attempts to boil down Canada’s and British Columbia’s overall well-being to a single ranking. Using data from 2017, the report found that Canada and B.C. aren’t performing at the level of the globe’s top economic powerhouses like the United States, Japan and Germany.
The report uses metrics like gross domestic product (GDP) per capita and research and development investment to compare the business environment and economic and societal well-being of Canada to some of the globe’s largest and most innovative economies, including three of the best-performing U.S. states and major developed countries.
British Columbia ranked 11th overall behind Alberta, the three U.S. states and most countries. However, B.C. did perform better than Ontario, Quebec, the U.K. and New Zealand.