The economy has been growing quickly in recent years. In both 2010 and 2011, the metro area's gross domestic product (GDP) led 27 other metropolitan areas in the country, according to the Conference Board of Canada, recording growth of 6.6 per cent and 5.8 per cent respectively. At $52,000 the city's per capita GDP is the second highest out of all major Canadian cities. Economic forecasts suggest that the city will continue its strong economic growth in the coming years not only in the "oceanic" industries mentioned above, but also in tourism and new home construction as the population continues to grow. In May 2011, the city's unemployment rate fell to 5.6 per cent, the second lowest unemployment rate for a major city in Canada.

What has been growing in the recent years?