Canada is thinking about controlling how many international students come in because of housing issues. In 2023, 62,410 students became permanent residents, which is more than the 52,740 in 2022, according to Canada’s immigration data. Experts say a big part of Canada’s fast-growing population comes from foreign students and workers.
Canada initially welcomed immigrants to replace older workers and fill job gaps, but now there are too many people, and resources are strained. Immigration Minister Marc Miller is looking at the number of students and temporary residents closely, as people are upset about expensive housing and living costs. He’s considering changes like adjusting permits and limiting the number of temporary residents.
However, Desjardins Securities in Montreal warns that closing doors to temporary workers and students could hurt Canada’s economy and make a recession worse. They predict Canada’s real GDP could drop by 0.7% in 2024 and grow about 1.78% each year for the next four years.
International students wanting to stay in Canada have options, and the fastest is the Express Entry Program. Indians make up the largest group seeking permanent residency in Canada each year. Even though the number of permits for Indian students dropped by 4% due to issues between the two countries, they are still the biggest group. As of 2023, about 330,000 new immigrants and students from India are living in Canada.