Chamber News Archives - Page 4 of 72

Harbour Authority celebrates 10 millionth passengers

August 16, 2023/in Chamber News/by caorda

Two couples stepped off a cruise ship this morning at Ogden Point to a little more fanfare than they probably expected. The passengers were the 10 millionth to arrive via cruise ship, and were welcomed by City of Victoria mayor Marianne Alto and other local dignitaries.

“We’ve been married for 14 years, and we came on this trip to renew our vow,” Emma Lonergan, one of the lucky passengers, said in a new release from the Greater Victoria Harbour Authority. The first cruise ship passengers arrived in 1969.

“Cruise supports the region’s visitor economy and creates jobs that support Victoria’s economic recovery,” GVHA CEO Robert Lewis-Manning said. “Engineers, entrepreneurs, accountants, mechanics and others are employed due to cruise tourism in Victoria, with salaries totaling more than $40 million annually.”

The GVHA said cruise visitors and crew contribute $56 million annually to Greater Victoria’s economy, while cruise lines spend $84 million on warehousing, ship agents, repairs and maintenance, port fees and docking services.

Lindsay Gaunt (Director of Cruise Development, GVHA); Robert Lewis-Manning (CEO, GVHA); passengers Ryan and Rebecca Fairchild; Darlene Hollstein (GM, Bay Centre & Destination Greater Victoria Board Chair); passengers Emma, Liam and Ava Lonergan; Marianne Alto (Victoria Mayor); Kevin Boag (Hotel General Manager, Queen Elizabeth, Cunard).

Inflation expectations add to economic uncertainty

August 16, 2023/in Chamber News/by caorda

Inflation is running hot in Canada, though the relationship between higher prices and the likelihood of the Bank of Canada raising rates is “complicated.” The rate was 3.3% in July compared to 2.8% in June. Some of the higher costs are directly related to interest rates, which make some mortgages and loans more expensive and impacts renters as well as homeowners. The summer heat also caused energy demand to soar, and the war in the Ukraine continues to impact food prices worldwide.

The Bank of Canada has been clear that tamping down inflation remains its priority. That means another raise in interest rates remains on the table next month. However, the Conference Board of Canada reports that inflation could be feeding on itself as consumers and businesses have come to expect prices to keep rising.

How is your organization dealing with cost uncertainty? Share your stories or advice for other businesses at communications@victoriachamber.ca.

Support the home team and enjoy great summer sports!

August 9, 2023/in Chamber News/by caorda

The forecast says Saturday will be 23 C and sunny — perfect to get to Wilson’s Group Stadium at Royal Athletic Park to watch the Victoria HarbourCats play for the WCL North Division title. The ‘Cats set a league record this season for most home victories and swept the Applesox this week to win their best-of-three semifinal series. The winner of Saturday’s game will play in the WCL Final on Monday.

“The baseball is fantastic and the atmosphere is just as amazing,” Chamber CEO Bruce Williams said. “The Chamber recently held a mixer at a game and it was a perfect evening and a great way to connect with our community.”

Another Greater Victoria team is also having a highlight season. Pacific FC is at the top of the table in the Canadian Premier League. The soccer squad plays Sunday at Starlight Stadium against Athletico Ottawa.

The Chamber’s Emerge Committee Connector on Sept. 8 will be held before Pacific FC’s game against Halifax. Register soon as this will sell out quickly!

Celebrating what makes British Columbia home

August 3, 2023/in Chamber News/by caorda

Take a moment this BC Day long-weekend and step into the exciting world of British Columbia, where history, diversity and community living are connected, creating vibrant experiences for all. On Aug. 7, let’s embark on a journey that celebrates what truly makes this province feel like home.

Let’s begin by honouring the rich heritage of First Nations, who have been the stewards of this land for generations. This is a time for reconciliation, where we stand together to support friends, neighbours, and community members, all working tirelessly to make BC the fantastic place it is today.

From the Songhees to the Malahat First Nations, let’s appreciate and embrace the incredible experiences Indigenous tourism businesses offer.

Our adventure doesn’t end there! Take the opportunity to immerse yourself in the vibrant culture and local shopping scene or seize the moment to embark on that long-awaited home project. And for the spontaneous folks, why not plan a thrilling last-minute getaway to discover the breathtaking natural beauty of the province?

As BC Day approaches, we wish you a relaxing day, a chance to appreciate the joy of being a part of this extraordinary province that we all call home.

Please note that The Chamber will be closed on Monday, Aug. 7 to celebrate BC Day.

GDP stays positive even as high rates remain

August 2, 2023/in Chamber News/by caorda

The Canadian economy continued to show resiliency this spring. Statistics Canada reports that Gross Domestic Product stayed in positive territory. The Bank of Canada will make its next interest rate announcement on Sept. 6.

Business leaders will be watching closely as high-interest rates used to fight inflation have a direct impact on the cost of investment. A Globe and Mail interview with CIBC World Markets’ deputy chief economist Benjamin Tal is a good read for insights to help cut through the confusing times. Tal said he thinks interest rates have peaked or are close to the peak. He added that conditions are right for rapid growth in business investment in 2025 as inflation subsides and productivity increases thanks to innovations such as AI.

Results are in for Chamber’s 2024 Board of Directors

August 2, 2023/in Chamber News/by caorda

The Greater Victoria Chamber of Commerce is proud to announce the people who will make up our 2024 Board of Directors.

Rose Arsenault, James Gatsi and Jessica Stigant are returning for new two-year terms after being acclaimed for 2024. As well, Josue Dubon will also join the Board as a full voting director. Josue currently holds a non-voting position as chair of The Chamber’s Emerge Committee.

And in related news, Dean Clarke joins The Chamber Board as the chair of The Chamber’s new Family Business Committee.

Sunny skies for consumers should be good for business

July 26, 2023/in Chamber News/by caorda

The blue skies of summer appear to reflect the sunny disposition of spenders, according to July’s Consumer Confidence Index.

The Conference Board of Canada reported an increase of 5.5 points over the previous month. The long range outlook was more moderate, though it seems a majority of Canadians are hopeful that better economic times are ahead.

In BC, consumers were buoyed by the provincial benefits handed out to more than two million people. The climate tax credit and increased family benefit helped individuals facing higher costs due to inflation.

“We encourage everyone who has been helped by these benefits to remember the importance of helping local business,” Chamber CEO Bruce Williams said. “Investment in the economy works by supporting the people in our community who provide the goods and services we all rely on.”

Pleasant surprise as June inflation rate slows to 2.8%

July 19, 2023/in Chamber News/by caorda

Everyone concerned about the cost of borrowing could be forgiven for feeling a bit of relief yesterday with news that inflation is slowing faster than expected.

Statistics Canada’s Consumer Price Index for June was 2.8%. That’s less than had been forecast and closing in on the Bank of Canada’s target rate of 2%.

However, the Canadian Chamber points out that there’s more to the number than meets the eye. “Unfortunately, the stickiest and hardest part of the inflation fight is only just beginning,” Chamber Senior Research Director Marwa Abdou said, noting that energy costs account for much of the drop. “We may have to get used to tight monetary policy (from the Bank of Canada), as the lagged effects of previous actions work their way through the economy.”

Board election nominations close July 27

July 13, 2023/in Chamber News/by caorda

Are you interested in running for the Board of Directors of the Greater Victoria Chamber of Commerce? We’re 15 days away from nominations closing for another year. Visit our 2024-25 Chamber Board Electionwebpage to review deadlines and download a nomination form.

We need great individuals on the board to achieve our Mission and Vision of working together to build good business and a great community for all. And our vision to be the region’s most diverse and influential business association.

New dean for UVic’s Gustavson Business School

July 13, 2023/in Chamber News/by caorda

A longtime voice of business leadership in Greater Victoria is moving on from his post as dean of the University of Victoria‘s Gustavson School of Business. Dr. Saul Klein has served as dean since 2012. He will continue as a professor of marketing, strategy and international business.

Klein raised the profile of business responsibility during his tenure, helping launch the Gustavson Brand Trust Index in 2015.

The new dean is Dr. Anita Bhappu, who started on July 1. She joins UVic from the University of California, where she served as associate dean of student success and department chair of management of complex systems.