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==Economy== The city's chief industries are technology, tourism, education, shipyards, federal and provincial government administration and services.<ref>{{Cite web |title=Greater Victoria Chamber of Commerce {{!}} Victoria, BC |url=https://www.victoriachamber.ca/about-victoria.html |access-date=2022-08-11 |website=GREATER VICTORIA CHAMBER |language=en |archive-date=7 August 2022 |archive-url=https://web.archive.org/web/20220807214904/https://www.victoriachamber.ca/about-victoria.html |url-status=dead }}</ref> Other nearby employers include the [[Canadian Forces]] (the Township of [[Esquimalt]] is the home of the [[CFB Esquimalt|Pacific headquarters]] of the [[Royal Canadian Navy]]), and the [[University of Victoria]] (in the municipalities of [[Oak Bay, British Columbia|Oak Bay]] and [[Saanich, British Columbia|Saanich]]) and [[Camosun College]] in [[Saanich, British Columbia|Saanich]] (which have over 33,000 faculty, staff and students combined). Other sectors of the Greater Victoria area economy include: investment and banking, online book publishing, various public and private schools, food products manufacturing, light aircraft manufacturing (in [[North Saanich]]), technology products, various high tech firms in [[pharmaceuticals]] and [[computers]], [[engineering]], [[architecture]] and [[telecommunications]].{{cn|date=September 2024}} ===Employment by industry=== The city's employment has 164,000 (87%) of workers in the service sector.<ref>https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410042001. Table: 14-10-0420-01. Retrieved 15 January 2024.</ref> Top segments include health care and social assistance (28,900; 15.3%), public administration (27,800; 14.7 %), wholesale and retail trade (24,100; 12.7%), professional, scientific and technical services (19,800; 10.4%), educational services (15,000; 7.9%) and accommodation and food services (10,100; 5.3%). The goods-producing sector is dominated by construction (16,000; 8.4%) and manufacturing (6,900; 3.6%). ===Retail=== [[File:The Bay Centre, Victoria, British Columbia, Canada 004.jpg|thumb|The [[Bay Centre]] is one of three [[shopping mall]]s in Victoria.]] There are three major shopping malls in the City of Victoria, including the [[Bay Centre]], [[Hillside Shopping Centre]], and Mayfair Shopping Centre. Mayfair, one of the first major shopping centres in Victoria, first opened as an outdoor strip mall on 16 October 1963 with 27 stores.<ref name="1963 opening">{{cite web|url=http://www.canada.com/story.html?id=6ae41066-94c2-4953-9764-9323ab2072c1|title=Oct. 16, 1963: $6,000,000 Mayfair mall open to public|access-date=2014-06-11|date=16 October 2008|publisher=Victoria Times Colonist|archive-url=https://web.archive.org/web/20140930180440/http://www.canada.com/story.html?id=6ae41066-94c2-4953-9764-9323ab2072c1|archive-date=30 September 2014|url-status=dead|df=dmy-all}}</ref><ref name="Mayfair">{{cite web|url=http://www.timescolonist.com/business/brickyard-to-boutiques-mayfair-mall-marks-50th-birthday-this-month-1.657809|title=Brickyard to boutiques: Mayfair mall marks 50th birthday this month|access-date=2014-06-11|date=11 October 2013|publisher=Victoria Times Colonist|archive-url=https://web.archive.org/web/20140810150855/http://www.timescolonist.com/business/brickyard-to-boutiques-mayfair-mall-marks-50th-birthday-this-month-1.657809|archive-date=10 August 2014|url-status=live}}</ref> It was built on the site of a former brickyard in the Maywood district, a then-semi-rural area in the northern part of Victoria.<ref name="Mayfair"/><ref>{{Cite book|url=https://books.google.com/books?id=6T5Pp9rh2O4C&q=%22Mayfair+Shopping+Centre&pg=PT8|title=Victoria|isbn=9781412243926|last1=Kersey|first1=Morris|date=2001|publisher=Trafford }}</ref> [[Woodward's]] was Mayfair's original department store anchor upon the mall's opening.<ref name="Mayfair"/><ref>{{cite AV media|url=http://images.glaciermedia.ca/polopoly_fs/1.657808.1381554885!/fileImage/httpImage/image.jpg_gen/derivatives/landscape_563/b1-bw-1012-mayfair4-jpg.jpg|title=Woodward's store at Mayfair Shopping Centre, 16 October 1963|access-date=21 June 2014|archive-url=https://web.archive.org/web/20140723111829/http://images.glaciermedia.ca/polopoly_fs/1.657808.1381554885!/fileImage/httpImage/image.jpg_gen/derivatives/landscape_563/b1-bw-1012-mayfair4-jpg.jpg|archive-date=23 July 2014|url-status=live}}</ref> Mayfair was enclosed and renovated into an indoor mall in 1974.<ref name="Mayfair 50th">{{cite web|url=http://www.vicnews.com/business/228268651.html|title=Victoria's Mayfair set to sparkle on its 50th birthday|access-date=2014-06-11|date=17 October 2013|publisher=Victoria News|archive-url=https://web.archive.org/web/20140408063419/http://www.vicnews.com/business/228268651.html|archive-date=8 April 2014|url-status=live}}</ref><ref>[http://www.shopinvictoria.com/Mayfair-Shopping-Centre---Shopping-Centres-Victoria/433583.htm Mayfair Shopping Centre] {{Webarchive|url=https://web.archive.org/web/20140722181302/http://www.shopinvictoria.com/Mayfair-Shopping-Centre---Shopping-Centres-Victoria/433583.htm |date=22 July 2014 }} at Shop in Victoria.com</ref> The mall underwent three later expansions in 1984 (with the addition of [[Consumers Distributing]]), 1985 (expansion of the mall food court) and a major expansion in 1990 that saw the addition of more retail space.<ref name="Mayfair 50th"/> The Bay (now [[Hudson's Bay (retailer)|Hudson's Bay]]) replaced Woodward's as Mayfair's department store anchor in 1993 following [[Hudson's Bay Company]]'s acquisition of the Woodward's chain.<ref>[http://www.hbcheritage.ca/hbcheritage/history/acquisitions/retail/woodwards.asp Woodward's Stores Limited] {{Webarchive|url=https://web.archive.org/web/20141012213934/http://www.hbcheritage.ca/hbcheritage/history/acquisitions/retail/woodwards.asp |date=12 October 2014 }} at HBC Heritage</ref> The mall was more recently renovated in 2019.<ref>{{Cite web |date=2021-10-28 |title=New Mayfair mall owner unveils redevelopment plan that includes housing |url=https://vancouverisland.ctvnews.ca/new-mayfair-mall-owner-unveils-redevelopment-plan-that-includes-housing-1.5643281 |access-date=2023-12-12 |website=Vancouver Island |language=en}}</ref> Mayfair now offers over 100 stores and services including Hudson's Bay.<ref>{{Cite web |title=Mayfair Shopping Centre {{!}} Victoria's Leading Fashion Mall |url=https://www.mayfairshoppingcentre.com/ |access-date=2023-12-12 |language=en-CA}}</ref> It has {{cvt|454213|sqft|order=flip}} of retail space and it also provides customers with rooftop parking.<ref name="Mayfair Info">{{cite web |title=Mayfair Shopping Centre |url=http://www.ivanhoecambridge.com/en/shopping-centres/properties/mayfair-shopping-centre |url-status=live |archive-url=https://web.archive.org/web/20150402100340/http://www.ivanhoecambridge.com/en/shopping-centres/properties/mayfair-shopping-centre |archive-date=2 April 2015 |access-date=2014-06-15 |publisher=Ivanhoe Cambridge}}</ref> Early in 2025, Canada-wide, Hudson's Bay Company entered Bankruptcy Protection. Only 4 stores, in Toronto, are expected to continue to operate. ===Technology industry=== Advanced technology is Victoria's largest revenue-producing private industry with $3.15 billion in annual revenues generated by more than 880 tech companies that have over 15,000 direct employees.<ref name="viatec.ca">{{cite web|url=http://www.viatec.ca/document/2014/12/economic-impact-greater-victoria-technology-sector|title=Economic Impact of the Greater Victoria Technology Sector|work=This report was commissioned by the Victoria Advanced Technology Council (VIATeC)|url-status=dead|archive-url=https://archive.today/20150309225937/http://www.viatec.ca/document/2014/12/economic-impact-greater-victoria-technology-sector|archive-date=9 March 2015|df=dmy-all|access-date=9 March 2015}}</ref> The annual economic impact of the sector is estimated at more than $4.03 billion per year.<ref name="viatec.ca"/> With three post-secondary institutions in [[Saanich, British Columbia|Saanich]], eight federal research labs in the region, and Canada's [[CFB Esquimalt|Pacific Navy Base in Esquimalt]], Victoria relies heavily upon the neighbouring communities for economic activity and as employment hubs. The region has many of the elements required for a strong technology sector, including Canada's highest household internet usage.<ref>{{cite web|title=Table 22-10-0058-01 Internet use, by location of access by geography|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2210005801|access-date=2020-12-21|website=[[Statistics Canada]]|date = 18 April 2017}}</ref> Over a hundred technology, software and engineering companies have an office in Victoria.<ref>{{Cite web |title=List of companies in Victoria |url=https://www.movingtovictoria.com/list-of-companies-in-victoria |access-date=2023-05-22 |website=Moving to Victoria |language=en-CA}}</ref> ===Tourism=== [[File:Victoria, British Columbia Skyline at Twilight.jpg|thumb|[[Downtown Victoria]] at twilight. Downtown is the [[central business district]] for [[Greater Victoria]] and a major tourist destination.]] Victoria is a major tourism destination with over 3.5 million overnight visitors per year who add more than a billion dollars to the local economy.<ref name="TourismVictoria">{{Cite web|url=https://www.tourismvictoria.com/|archiveurl=https://web.archive.org/web/20080828232905/http://www.tourismvictoria.com/Content/EN/1779.asp|title=Unlock the Beauty of Victoria, BC | Tourism Victoria|archivedate=28 August 2008|website=Tourism Victoria -}}</ref> As well, over 500,000 daytime visitors arrive via cruise ships which dock at [[Ogden Point]] near the city's [[Victoria Harbour (British Columbia)#Inner Harbour|Inner Harbour]]. Many whale watching tour companies operate from this harbour due to the whales often present near its coast. The city is also close to [[CFB Esquimalt|Canadian Forces Base Esquimalt]], the Canadian Navy's primary Pacific Ocean naval base. [[Downtown Victoria]] also serves as [[Greater Victoria, British Columbia|Greater Victoria]]'s regional downtown, where many night clubs, theatres, restaurants and pubs are clustered, and where many regional public events occur. [[Canada Day]] fireworks displays, [[Symphony Splash]], and many other music festivals and cultural events draw tens of thousands of Greater Victorians and visitors to the downtown core. The Rifflandia and Electronic Music Festival are other music events that draw crowds to the downtown core. Victoria relies upon neighbouring communities for many recreational opportunities including ice rinks in Oak Bay and [[Saanich, British Columbia|Saanich]]. Victoria has one small public pool (Crystal Pool) and many residents use larger and newer pool facilities in Oak Bay, and [[Saanich, British Columbia|Saanich]] (Commonwealth Pool and Gordon Head Pool). [[File:Ogden Point. MORE INFO IN PANORAMIO-DESCRIPTION - panoramio.jpg|thumb|[[Ogden Point]] is a deepwater port in the southwest corner of Victoria. The port sees 500,000 daytime visitors via cruise ships per year.]] The city and metro region has hosted high-profile sports events including the [[1994 Commonwealth Games]] which hosted track events at the [[Saanich, British Columbia|Saanich]]-Oak Bay based University of Victoria and the [[Saanich, British Columbia|Saanich]] Commonwealth Pool, the 2009 [[Scotties Tournament of Hearts]], the [[2005 Ford World Men's Curling Championship]] tournament, and [[2006 Skate Canada]]. Victoria co-hosted the [[2007 FIFA U-20 World Cup]] at [[Royal Athletic Park]], and is the venue for the Bastion Square Grand Prix Criterium road cycling race. The city is also a destination for conventions, meetings, and conferences, including a 2007 [[North Atlantic Treaty Organization]] military chief of staff meeting held at the Hotel Grand Pacific. Every year, the [[Swiftsure International Yacht Race]] attracts boaters from around the world to participate in the boat race in the waters off of Vancouver Island, and the Victoria [[dragon boat|Dragon Boat]] Festival brings over 90 teams from around North America. The Tall Ships Festival brings sailing ships to the city harbour. Victoria also hosts the start of the [[Vic-Maui Yacht Race]].<ref>{{cite web |last1=Laba |first1=Nick |title=Brainy North Shore crew sets sail in Victoria-Maui race |url=https://www.nsnews.com/local-sports/brainy-north-shore-crew-sets-sail-in-victoria-maui-race-5556528 |website=North Shore News |date=7 July 2022 |access-date=8 June 2024}}</ref> The Port of Victoria consists of three parts, the [[Ogden Point|Outer Harbour]], used by deep sea vessels, the Inner and [[Victoria Harbour (British Columbia)#Upper Harbour|Upper]] Harbours, used by coastal and industrial traffic. It is protected by a [[breakwater (structure)|breakwater]] with a deep and wide opening. The port is a working harbour, [[tourist attraction]] and [[cruising (maritime)|cruise]] destination. [[Esquimalt Harbour]] is also a well-protected harbour with a large [[graving dock]] and [[shipbuilding]] and repair facilities.<ref>{{Cite web |last=Canada |first=Transport |title=Port of Victoria |url=https://tc.canada.ca/en/marine-transportation/ports-harbours-anchorages/port-victoria |access-date=2025-04-21 |website=TE 18794427 |language=en-CA}}</ref> ===Homelessness=== A point-in-time homeless count was conducted by volunteers between 11 March and 12 March 2020, that counted at least 1,523 homeless that night.<ref>{{cite web|title=Where are Victoria's homeless coming from?|url=https://www.capitaldaily.ca/news/victoria-homeless-count-movement |first1=Anna J. |last1=James |date=11 August 2020 |access-date=2022-01-13|website=Capital Daily}}</ref><ref name="autogenerated2">{{cite web|date=2020-07-31|title=2020 Greater Victoria Point in Time Count Results Announced|url=https://www.crd.bc.ca/about/news/article/2020/07/31/2020-greater-victoria-point-in-time-count-results-announced|access-date=2022-01-13|website=Capital Regional District|language=en}}</ref> The homeless count is considered an underestimate due to the hidden homeless that may be [[couch surfing]] or have found somewhere to stay that is not on the street or homeless shelters.<ref name="autogenerated2"/> The first homeless count was conducted in January 2005 by the [[Victoria Cool Aid Society]] and counted a homeless population of approximately 700 individuals.<ref name="Homeless Count β 2005 Victoria, BC">[http://intraspec.ca/Homeless_Survey.pdf Homeless Count β 2005 Victoria, BC] {{Webarchive|url=https://web.archive.org/web/20071012032858/http://intraspec.ca/Homeless_Survey.pdf |date=12 October 2007 }} Cool Aid Society. Retrieved 2008-07-03.</ref> Like many west coast cities in North America the homeless population is both concentrated in specific areas (parts of Pandora avenue in Victoria) and is often outside due to milder climates that make homelessness more visible year-round. The 2020 point-in-time homeless count found 35% respondents identified as being [[Indigenous peoples in Canada|Indigenous]]. This is over representative in the homeless population as only 4.7% of the overall population of Victoria identify as Indigenous.<ref name=":0">{{Citation |title=2020 Greater Victoria Point-in-Time Homeless Count and Housing Needs Survey |url=https://www.crd.bc.ca/docs/default-source/housing-pdf/housing-planning-and-programs/crd-pit-count-2020-community-report-2020-07-31.pdf |page=15}}</ref> During the [[COVID-19 pandemic]], many homeless people sheltered in camping tents within the city's parks and some roadside greenspaces, including in [[Beacon Hill Park]].<ref>{{cite web|date=2021-03-19|title=Victoria to end all-day camping in parks in May|url=https://vancouverisland.ctvnews.ca/victoria-to-end-all-day-camping-in-parks-in-may-1.5354050|access-date=2022-01-13|website=Vancouver Island|language=en}}</ref> In March 2021, city council reinstated a bylaw prohibiting daytime camping in parks, and with support from the provincial government, pledged to find indoor accommodation for all those camping in parks.<ref>{{cite news|date=23 Mar 2021|title=B.C. signs deal with City of Victoria to end homeless camps, bring people inside|url=https://www.cbc.ca/news/canada/british-columbia/b-c-signs-deal-with-city-of-victoria-to-end-homeless-camps-1.5960285|website=CBC News}}</ref><ref>{{cite web|title=Bylaw banning daytime camping in Victoria parks back in force {{!}} Globalnews.ca|url=https://globalnews.ca/news/7828022/victoria-homeless-camping-bylaw/|access-date=2022-01-13|website=Global News|language=en-US}}</ref><ref>{{cite web|title=Sheltering in Parks|url=https://www.victoria.ca/EN/main/city/bylaw-enforcement/sheltering-in-parks.html|website=City of Victoria|date=18 November 2024 }}</ref> Homeless campers from parks and other public spaces were housed temporarily in motels, the Save-on-Foods arena and a tiny home village on a portion of the Royal Athletic Park's parking lot.<ref>{{cite web|date=2021-05-14|title=North Park Tiny Home Village opens at Royal Athletic Park lot to 30 unhoused|url=https://www.vicnews.com/news/north-park-tiny-home-village-opens-at-royal-athletic-park-lot-to-30-unhoused/|access-date=2022-01-13|website=Victoria News|language=en-US}}</ref><ref>{{cite web|date=2021-01-27|title=Save-on-Foods arena to again serve as Victoria homeless shelter|url=https://vancouverisland.ctvnews.ca/save-on-foods-arena-to-again-serve-as-victoria-homeless-shelter-1.5284983|access-date=2022-01-13|website=Vancouver Island|language=en}}</ref><ref>{{cite web|date=2021-01-20|title=A closer look inside one of Victoria's 'homeless hotels'|url=https://www.cheknews.ca/from-opportunities-to-challenges-a-closer-look-inside-one-of-victorias-homeless-hotels-735846/|access-date=2022-01-13|website=CHEK|language=en-CA}}</ref><ref>{{cite web|last=Chan|first=Adam|date=2021-04-28|title=B.C. buys Victoria hotel for $25M to use as shelter|url=https://vancouverisland.ctvnews.ca/b-c-buys-victoria-hotel-for-25m-to-use-as-shelter-1.5406290|access-date=2022-01-13|website=Vancouver Island|language=en}}</ref>
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