Calgary is a city with a metropolitan population of 1,214,839 (as of 2011) and economic activity centred on the petroleum, agriculture, and tourism industries. It is also the third-largest municipality and fifth-largest metropolitan area in Canada.
Calgary has one of the highest purchasing powers and lowest unemployment rates in Canada. With the second highest (average) annual growth in personal income per capita over the past 10 years (4.5% for 2001-2010). Calgary has consistently higher wages and salaries in comparison to other major urban centers for the past 14 years. This has lead to a large and continuously growing number of wealthy individuals who are seeking a fresh, stylish, and luxurious look to match their lifestyle.
A recent report by the ‘Conference Board of Canada’ revealed that consumer demand in Alberta will lead to a continuing growth and expansion of major metropolitan areas such as Calgary.
The ‘Conference Board of Canada’ is forecasting the following annual retail sales for Calgary:
$23.860 billion in 2012 (with an annual growth rate of 5.0%)
$25.432 billion in 2013 (with an annual growth rate of 6.6%)
$26.945 billion in 2014 (with an annual growth rate of 6.0%)
$28.495 billion in 2015 (with an annual growth rate of 5.8%)
$29.966 billion in 2016 (with an annual growth rate of 5.2%)
“Calgary boasts the country’s highest per capita retail spending and high levels of disposable income which make it a hot market for retail developments,”
– Barclay Street report