The Gambling and Betting Activities sector in Canada observed fluctuating employment numbers between 2013 and 2023. After peaking with steady growth from 2016 to 2019, the sector experienced a significant contraction with a 35.72% drop in 2020 due to the impacts of the COVID-19 pandemic. While there was a partial recovery in 2021 and a notable 40.44% increase in 2022, 2023 saw a 9.68% decline, positioning the number of employees at 35.63 thousand jobs for the year. Looking at the five-year CAGR up to 2023, there is a negative trend at -3.31%, indicating an overall decrease over this period.
Forecasts for 2024 and beyond suggest stabilization, with employment figures expected to remain nearly flat until 2028 at around 35.67 thousand jobs. The projected five-year CAGR from 2024 to 2028 is a minimal 0.02%, signaling negligible growth in employment in this sector.
Future trends to watch for include the impact of digital transformation on employment, regulatory changes affecting the gambling industry, and the potential influence of economic conditions on discretionary spending. Additionally, shifts in consumer behavior towards online gambling and newer betting activities could shape employment either positively or negatively, depending on the adaptability of the industry.
