Executives think Canadian economy too dependent on resources, Alberta

TORONTO—The Gandalf Group’s quarterly C-Suite Survey has found that the overwhelming majority of Canadian executives think the Canadian economy is too reliant on a handful of specific industries, and on Alberta.

Of 153 Canadian corporate executives surveyed, 80 per cent said the Canadian economy is focused too narrowly on a small number of industries. The execs want to see the Canadian economy diversify away from resources and invest in technology such as pharmaceuticals and biotechnology, cleantech, aerospace and information and communications technology.

The survey also found that 63 per cent of executives think Canada is too reliant on Alberta’s economy and natural resources. This includes two-thirds of respondents from Alberta itself. Execs are also pessimistic about the NDP’s election in Alberta. Seven in 10 feel it will hurt investment int he province.