Economic Sectors > Knowledge-Based Services > Retirement Living

The Retirement Living Industry on Vancouver Island

Not a standard economic sector with direct employment per se, retirement living holds its value in the pension and investment income of retirees that form part of the region’s economic base and help support population-serving industries such as retail trade, personal services and the arts. Vancouver Island has a long-standing reputation as the most popular retirement destination in Canada due to our moderate climate, natural beauty and recreation options. The retiree population is estimated at 17% of the total population of Vancouver Island, with a 86% projected growth rate by 2027 at which time it will represent 27% of the total population.