International investments were down markedly in the metropolis and its region in 2023, Montréal International announced on Monday, attributing the situation to the global economic slowdown.
The organization supported projects worth 2.7 billion last year, compared to 3.6 billion the previous year, a drop of almost 25%. This is a return to pre-pandemic levels.
The number of jobs created increased from 8,287 jobs in 2022 to 5,983 in 2023. Montréal International is, however, delighted to see the average annual salary of the jobs created by these projects reach a peak, at $97,500.
The boss of Montreal International affirmed that 2023 had been “a year of extreme sport” due to the economic slowdown and significant layoffs in the field of new technologies. “When we look at the global economy, as we speak, there are three G7 countries which are in recession: Germany, the United Kingdom, Japan,” underlined Stéphane Paquet. “For us, these are so many investment projects which are postponed, so many investment projects which, perhaps, will simply not take place. »
Mr. Paquet stressed that several new technology companies had stopped participating in recruitment missions abroad, because they are slowing down their investments.
Montréal International laid off 19% of its employees last month, in particular because the organization lost its mandates to attract foreign students granted by the Ministry of Immigration, Francisation and Integration (MIFI ).
With The Canadian Press