Road to Recovery: Economist says 2021 will be an ‘interesting year’ for Vancouver Island’s economy

Road to Recovery: Economist says 2021 will be an 'interesting year' for Vancouver Island's economy

It’s a new year and with it comes a new economic picture.

Hopefully, it is one that’s a bit brighter.

In this edition of Road to Recovery with Douglas Magazine, CHEK’s Joe Perkins speaks to Bryan Yu, deputy chief economist at Central One about Vancouver Island’s economic forecast for 2021.

He says the Island’s economy will experience a “softness” early in the year, followed by a gradual improvement by mid-year.

“It’s going to be a tough first quarter,” said Yu.

He also said tourism will continue to be “under a lot of pressure” as long as travel restrictions remain in place.

“When we see tourism return that is a pretty good signal that we are well into that full recovery phase,” Yu said.

The segment “Road to Recovery” is done in partnership with Douglas Magazine.

Previous episodes of Road to Recovery can be found here.

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