
Over the past decade, Alberta has had the highest rate of
economic growth in Canada at 3.7%, in addition to having one of the
strongest economies in all of Canada. In fact, Alberta is rated as
the fourth most free economy in all North America: this means that
businesses enjoy greater opportunity for and less restrictions on
growth.

Feeding the world's
appetite for energy
Alberta is the largest producer of natural gas, conventional
crude and synthetic crude gas products in the country. The
province's oil sands contain the world’s second-largest proven
crude oil reserves (176 billion barrels) after Saudi Arabia. While
Calgary is home to most oil company headquarters,
Edmonton is considered the pipeline junction,
manufacturing, chemical processing, research and refining centre of
the province.
To further grow this province's potential as a major economic
region, several high-tech industries have consequently been
established in Alberta to develop innovative technologies. Albertan
companies produce computer equipment and services, software,
navigational and medical instruments, and wireless
technologies.
Economy in Alberta
|
Real GDP growth
|
3.7%
|
|
CPI inflation
|
1.4%
|
|
Unemployment rate
|
4.6%
|
Source: Alberta Provincial Profile (2004)
Riding the economic
boom
Newcomers are flocking to the Calgary-Edmonton corridor, which
is the fastest growing and the most urbanized region in the
province, accommodating 72% of Alberta's population. Drawn by the
safe living environment and high standards of living offered by
these modern, family-friendly cities, new Albertans are also
attracted by abundant resources and proximity to magnificent
natural landscapes.

Centrally located, Jasper National Park was established in 1907
as the largest national park in the Canadian Rockies and offers
10,878 km2 of mountain wilderness to explore. In addition to
majestic mountains, pristine lakes and fertile plains, Albertans
also enjoy no provincial sales tax, a world-class education system
and the lowest unemployment rate in Canada.