Kelowna remains one of B.C.'s most economically resilient cities new survey shows

Economic resilience shines

Kelowna continues to have one of B.C.'s most resilient economies.

That's according to BC Business, which ranked Kelowna the fourth most economically resilient city in the province for 2022.

It's the sixth year in a row the city has been ranked in the Top10.

"Kelowna has earned its place among B.C.'s most economically resilient cities time, and time again," the magazine says in describing Kelowna's strong showing.

"Strong population growth, high housing stats and one of the province's healthiest unemployment rates were major contributors to its success in this year's ranking.

"The Okanagan's residential real estate industry was another bright spot, with Kelowna’s neighbours of West Kelowna, Vernon and Penticton all joining it among the Top 10 performers for residential sales per 10,000 residents."

Kelowna was ranked 10th a year ago.

Six other cities within the Southern Interior fell within the Top 30, including Summerland (12), Salmon Arm (17), Penticton (20), West Kelowna (22), Vernon (26) and Kamloops (28).

Rankings are based on 10 specific criteria, six of which were included within the 2021 survey.

Each criteria is weighted between five and 15 per cent of the overall score. Those indicators were said to be "less specific to pandemic recovery, and considered economic resilience more broadly, including social and environmental aspects."

Criteria include population growth, rental vacancy rates, housing sales and housing starts, unemployment rate and economic diversity.

Langford, New Westminster and Comox are the top three rated cities.

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