In 2021, ATB Financial and MNP  partnered on a study to document the economic contributions Indigenous Peoples make to the Alberta economy. The study provided a baseline for estimating the Indigenous economy in Alberta in 2019 and the gap between the Indigenous and non-Indigenous population.

Building on that work, ATB and MNP have partnered on an update to the 2021 study to assess how much progress has been made in increasing Indigenous participation in Alberta’s economy and what that means in terms of the economic contribution of the Indigenous economy in Alberta.

There were between 350,000 and 360,000 Indigenous individuals in Alberta in 2023, which represented approximately 7.5% of the province’s total population.

Indigenous Peoples contributed almost $17 billion in spending and $9 billion of GDP to the Alberta economy in 2023. Over 81,000 FTEs of total employment were supported through the spending of Indigenous households, Indigenous governments and Indigenous-owned businesses last year.

Between 60% and 70%of the contributions of Indigenous Peoples to the Alberta economy arose from spending at non-Indigenous businesses by Indigenous governments, businesses and households.

Between 2019 and 2023, the contributions of Indigenous Peoples to Alberta’s economy grew. Along with that growth, there is some indication that the gap in socioeconomic outcomes has narrowed. However, there remain significant gaps in incomes and employment between the Indigenous and non-Indigenous population.

Closing the gap through increased Indigenous participation in the labour market and Indigenous individuals working in higher-skill occupations could increase total household spending in Alberta by approximately $3.2 billion. This could support between 13,000 and 14,000 jobs and generate annual tax revenues of over $600 million.

While progress has been made, the report highlights that achieving full economic participation for Indigenous Peoples requires addressing systemic barriers and investing in education and skills development.

Answer to the previous trivia question: The Pitcairn Islands are a British Overseas Territory with a population of just 35 people.

Today’s trivia question: What is the largest reserve in Alberta by population?