Edmonton Flagged as "City to Watch" Over the Next Decade

The Oxford Index ranks 1,000 of the world’s major cities by evaluating their economics, human capital, quality of life, environment and governance. 

This year they introduced a new “cities to watch” section, which highlights emerging metros that are “forging independent growth paths that key stakeholders and policymakers can no longer afford to ignore.” Only one Canadian centre made the list of key cities to watch on a global ranking… and it was Edmonton!

According to Economists, Edmonton made the list because it is poised for great things over the next decade. One of North America’s fastest-growing urban economies, the city has made strong gains in gross domestic product, employment and population, said the report.

Though it is known for its role in the oil and gas industry, Edmonton is in the process of diversifying its economy to support more sustainable, long-term growth, it said.

“Recent developments — such as the expansion of the Trans Mountain Pipeline to transport more oil from Edmonton to the Port of Vancouver and proposed carbon capture projects by Alberta-based oil producers — suggest the city remains firmly invested in the future of fossil fuels,” said the report, “But as the world transitions to more sustainable energy sources, the city is well positioned to leverage its increasing dynamism for long-term growth.”

The economists predict over the next five years Edmonton’s employment and population will grow at the second fastest rate of any city in the United States and Canada as high-paying jobs in business services and the oil sector attract young workers.

While home prices soared in Canada during the population boom early in the decade, Edmonton has managed to remain more affordable than many other major cities, said Oxford. This affordability is supporting the city’s growth, attracting newcomers from across the country seeking a lower cost of living.

Thinking About Making Edmonton Your Home?

Edmonton’s growth story is an exciting one—and for those considering buying, selling, or investing in the Edmonton area, understanding where our city is headed matters.

As a lifelong local and REALTOR® who knows Edmonton and St. Albert from the inside out, I’d love to help you understand what these changes could mean for you and your real estate goals.

Curious about the Edmonton market, a particular neighbourhood, or whether now might be the right time for your next move? Let’s chat. I’m always happy to share what I’m seeing on the ground and help you make a plan that feels right for you.

-Breanne