There are many provinces in Canada which are doing rather well when it comes to economy with Alberta being one of them. Actually, over a period of soaring growth, this specific region remains filled with a plethora of potentials for more expansion of its economy which is determined by its growing energy sector, a chief employer in Alberta. The energy sector accounts for more than 275 000 jobs in the province — both directly and indirectly.
A recent study, done on the basis of the data collected since 2009, has found that Alberta is the most economically free authority across North America, and it has topped all the provinces and states of the involved nation. While conducting this study, they assessed the provinces on the basis of three main factors, namely, taxation, size of government and freedom of the labor market.
On personal income, there is only flat 10% tax and 0% sales tax in Alberta, which has made it to reach the top. However, American states undoubtedly suffered due to the increased guidelines in response to the share market and collapse of housing and large expenses for wars in Afghanistan and Iraq.
According to a reliable source, when government spends money, as spending requires revenue, it usually comes from the taxes people pay. It simply indicates that people are less free to invest and spend their income.
Though other provinces of Canada obtained much lower scores, as a whole, Canada received in financial freedom in comparison to the United States, mainly due to the abovementioned causes. However, another province that has made a significant gain in this regard is Saskatchewan, and got 32nd rank overall.
If you are planning to migrate to Alberta as a business investor, then there are certain criteria that you need to fulfill to become eligible for Alberta immigration, and for other popular Canadian provinces, under the Federal Investor or Entrepreneur program.