Canada’s immigration policies play a key role in its social and economic fabric, and that is why, in spring 2024, we worked to bring public and financial institutions closer to Canadian newcomers. Our aim was not only to help them offer better products, services, and solutions, but also to ensure newcomers feel heard and understood. This blog shares insights from the first edition of our Cracking the Newcomer Code study, led by Lisa Covens, Senior Vice President, highlighting the experiences and challenges faced by new Canadians.
The profile of new Canadians has changed a lot, with people coming from many different countries. While newcomers bring unique experiences, they often face similar challenges as they settle in Canada. Our study shows that it takes an average of 19.6 months for newcomers to become financially self-sufficient, highlighting the hurdles they encounter.
- Motivations for Immigration: One of the top reasons for moving to Canada is the pursuit of better opportunities for themselves and their families. However, this pursuit comes with significant challenges.
- Integration and Identity: 74% of newcomers feel integrated into Canadian society, and 60% identify as Canadians. This sense of belonging is crucial for successful integration into the country’s social and economic systems.
- Financial Self-Sufficiency: While many immigrants eventually become financially stable, a significant portion (19.6%) face financial difficulties even years after their arrival. This highlights issues like trouble transferring foreign credentials and getting local work experience.
- Support and resources: Only 52% of newcomers believe they received adequate support from the Canadian government during their settlement process, signaling room for improvement in government services.
- Cost of Living: 84% of immigrants found Canada more expensive than they had anticipated, which adds another layer of difficulty to their settlement process.
- Skills Mismatch: Many newcomers struggle to find jobs that match their skills. This shows the need for better recognition of foreign credentials and more support to help skilled workers join the Canadian economy.
- Diversity as a Strength: Both Canadians and immigrants agree that diversity is one of Canada’s biggest strengths. Despite some challenges, most newcomers feel they made the right choice—67% would choose to immigrate to Canada again.
The Cracking the Newcomer Code spring 2024 results provide clear steps to improve the newcomer experience through strategies like custom research and targeted engagement. Tailored studies can give businesses and policymakers valuable insights into newcomers’ needs, while focused campaigns can better address the challenges different newcomer groups face.
Canada’s future success depends on how well it integrates newcomers, and tackling these challenges ensures everyone benefits from immigration. Contact our experts for the full report or custom research. Our market research offers practical insights to help businesses and policymakers manage newcomer integration.
