Population, income soaring

Photo: Contributed

The Central Okanagan is growing faster than B.C. and Canada in a number of ways.

The Central Okanagan Economic Development Commission released its 2018 Regional Economic Profile and Five Sector Profile Reports on Tuesday, and it confirmed what was already quite evident: The area is booming.

The area’s population and income is growing at a rate faster than those in B.C. and in Canada, while the technology, tourism, aerospace, health and film sectors continue to pump hundreds of millions of dollars into the economy.

The region’s population grew 8.4 per cent between 2011 and 2016, which was actually down from the 10.8 per cent it increased between 2006 and 2011. The 8.4 per cent uptick was still greater than B.C.’s and Canada’s growth.

Meanwhile, median individual (16.8 per cent) and household (19.6 per cent) income rose faster than the provincial mark (14.8 per cent) between 2010 and 2015.

The Central Okanagan region consists of Kelowna, West Kelowna, Lake Country, Peachland, Westbank First Nation, Central Okanagan East, Central Okanagan West and Okanagan Indian Band.