Quote:
Originally Posted by vanatox
Montreal's (and Quebec's) economy has undergone tremendous changes over the last decade. Quebec has one of the highest growth rate of GDP in Canada.
Montreal has a well diversified economy and has been on fire for a number of years now, all neighborhoods are gentrifying at an incredible pace, economy is super strong. New sectors of the economy are growing fast. One of the strongest economy in the country, with among the highest increases in wages. Not only wages are increasing due to the hot economy, but labor shortage is also driving increases in productivity.
Montreal as a relatively poor and declining place is history. Old dilapidated factories that used to house parties have now been fully renovated and filed with start-ups workers.
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Yes, I see what you mean.
I left 10 years ago, and don't pretend to have my finger on the ground in Montreal or Canada. I don't vote there anymore, for instance, even though I can. Because I'm not part of what's going on.
But when I left, the city was already spooling up and its construction boom had begun. It was hardly the tattered city of the mid-1990s anymore. It looked different, felt different and had a very different directionality. I sense that has continued.
That said, shifts in things like metropolitan GDP, and particularly relative GDP, take a long time to occur and are not moved significantly by even years of improved sentiment.
Of course my 1997 dream-walks down an empty Ann St. are lost in a buzz of life and new property now. They were by 2012, by 2005 even. Montreal has long since recovered from that phase.
But the world has not stood still during this time, either. Toronto is massively larger. San Francisco and Washington, DC, are incomparably wealthier. A lot of cities have startups occupying what were once industrial buildings. Some of them are known and used around the world.
Little Stockholm, with the metro population of 2.4 million that Montreal had when it hosted Expo, had a
2019 GDP of CAD 197bn vs. Montreal's 2021 forecast of
CAD 188bn (at 4.5 million people).
Montreal is moving in the right direction but it has not become a powerhouse. And though I really did leave a decade ago, move to Europe and become rather old, my noticing this is not a fragment of some lost '90s dreaming.