Alberta’s Tech Economy is Booming and Poised for Future Growth, Report Concludes

Alberta’s technology sector is poised for “substantial growth,” suggests a new outlook from the Information and Communications Technology Council.

The report, “Alberta’s Digital Economy: Outlook 2030,” reflects on the prior decade and also forecasts the next half-decade of tech growth in the province.

From 2014 to 2023, Alberta’s ICT sector grew at an average annual rate of 3.0%, surpassing the general economy’s rate of 1.1%. By 2023, the province’s ICT GDP had exceeded the GDP of its overall economy, with a 6.8% increase compared to the general economy’s 2.3% growth.

By 2023, Alberta’s ICT sector reached $11.6 billion, representing 3.4% of the province’s total GDP. As a result, Alberta’s digital economy has created 60,000 jobs in the past five years, now housing more than 227,000 workers, or 9% of total provincial employment.

Looking ahead, the outlook predicts annual growth north of 1%, suggesting another 13,600 new jobs in ICT through 2030, and forecasts that the GDP of Alberta’s ICT sector will reach $13 billion by that year, up from $1.4 billion over 2023.

The report posits that Alberta’s digital economy has become “a crucial catalyst for innovation, job creation, and economic advancement.” The region has “created a strong basis for ongoing growth that will enhance Alberta’s status as a leading technology hub and a significant contributor to Canada’s digital future.”

Alberta contributes 15% of the national GDP. And while the province’s energy sector has traditionally driven economic growth, over the past decade Alberta has diversified its economy by investing in technology and innovation, establishing itself as a national hub, the report found.

As of 2023, Alberta boasts 2,400 technology firms, data from KPMG shows, comprising 2% of the province’s total businesses. More than half of the region’s tech firms are concentrated in Calgary, while nearly one-third operate out of Edmonton. The two cities combine to capture 90% of the tech action in Alberta.

Established over 30 years ago, ICTC is a not-for-profit national centre of expertise with a mission to strengthen Canada’s digital advantage in the global economy.