Looking for a city that has it all? Look no further than Calgary, Alberta. And if you're already a Calgarian reading this article, well, you clearly know what's up. But for the rest of the world, let us introduce you to why Calgary is the place to be in 2023. Calgary is quickly proving itself to be a top contender for those seeking a high quality of life and a thriving economy. With a diverse and expanding industry, along with a real estate market that is both affordable and stable, there are countless reasons why Calgary is quickly becoming the "it" city for both residents and investors alike. But Calgary isn't just about business - it also boasts a rich cultural scene and an abundance of outdoor recreational activities, making it the perfect place for those seeking both urban and outdoor adventures. So if you're looking for a city that has it all, keep reading as we explore the top reasons why Calgary should be at the top of your list of places to be in 2023. And who knows, you may just find yourself wanting to pack your bags and head west to this vibrant and exciting city!

Diverse Job Market

Calgary's dynamic job market has long been a hallmark of its economic success, offering a diverse range of employment opportunities across various industries. The city's economy has traditionally been anchored in the energy sector, which has been a vital driver of its growth for decades. However, with the world's evolving priorities and growing environmental concerns, Calgary has been embracing a strategic shift towards diversification, exploring emerging industries such as tech and film & TV. This bold move towards diversification is crucial to ensure the city's long-term economic prosperity and stability, and to create new opportunities for professionals and businesses alike. 

To encourage this transition, the City of Calgary has launched several initiatives, including grants and funding programs, to support the growth of these emerging industries. These programs aim to attract investment, talent, and innovation to the city, creating a supportive ecosystem for startups and established companies alike.

Tech Industry

Calgary's investment in the tech sector is a significant factor in its success in diversifying its economy. The city has focused on providing funding for startup accelerators and incubators, investing in infrastructure, and research and development, creating a supportive ecosystem for the tech industry. As a result, several startups and established companies have chosen Calgary as their base of operations, including leaders in the sector such as Benevity, Solium, and Showpass, attracting investment and talent from all over the world.

Contributing to the growth of Calgary's tech sector is the city's commitment to innovation and entrepreneurship. Calgary is home to several top-notch post-secondary institutions, such as the University of Calgary and the Southern Alberta Institute of Technology (SAIT), providing a talented pool of graduates to fuel the growth of the tech industry. The city also has several incubators and accelerators, such as Platform Calgary and District Ventures, supporting early-stage companies and helping them scale up their operations.

Calgary's tech sector is diverse, with companies working in various sub-sectors, such as artificial intelligence, software development, cybersecurity, and e-commerce. This diversity of companies and technologies creates an ecosystem that is attractive to professionals and businesses, offering a range of employment opportunities and innovative solutions to complex problems.

According to the Coldwell Bank Richard Ellis (CBRE) Tech-30 2022 report, Calgary's tech industry is among the highest in Canada in terms of growth. CBRE's report ranked the top 30 leading technology markets in the U.S. and Canada, as well as 10 up-and-coming sectors, and on the 'Markets to Watch' list, Calgary placed third overall. CBRE notes that the city has a tech workforce of approximately 33,200 people, which represents 19.1% of office jobs in Calgary.

With the city's continued investment in the industry, its commitment to innovation and entrepreneurship, and its talented pool of graduates, Calgary's tech sector is poised for continued success in the years to come.

Film and TV

In recent years, Calgary has also emerged as a hub for the film industry. The city's stunning natural beauty and world-class facilities have attracted several major film and television productions to the area, making it an attractive destination for actors, directors, and producers alike.

One of the most significant film productions to be shot in Calgary in recent years is the critically acclaimed TV adaptation of the popular video game, "The Last of Us." with the series being produced by HBO. The show's production has created hundreds of jobs for local actors, crew members, and support staff, generating millions of dollars in revenue for the city.

The Last of Us is not the only major production to be shot in Calgary. Other popular films and TV shows shot in the city include Fargo, Heartland, and Hell on Wheels, among others. These productions have brought thousands of jobs and millions of dollars in revenue to Calgary, boosting the city's economy and creating new opportunities for local workers.

Calgary's investment in the film and television industry has also been instrumental in attracting major productions from around the world, contributing to the growth of the city's economy. The city has made significant investments in infrastructure, post-production facilities, and tax credits, creating a supportive ecosystem for the industry.

One of the most significant investments in the industry is the Calgary Film Centre, a state-of-the-art facility that includes three soundstages, production offices, and workshops, making it one of the most comprehensive purpose-built film facilities in Canada. The Province of Alberta also offers a Film and Television Tax Credit, providing a 22% refundable tax credit on eligible Alberta expenditures for productions that qualify. This tax credit has made Calgary an even more attractive destination for filmmakers and television producers, providing significant savings on their productions.

With the city's continued commitment to supporting the industry, Calgary's film and television sector is poised for continued growth and success in the years to come.

Affordable Housing 

Calgary's affordable housing market is a significant factor in the city's appeal as a place to live, work and invest. Unlike other major Canadian cities like Vancouver and Toronto, where housing prices have skyrocketed in recent years, Calgary's real estate market remains relatively affordable.

According to a report by RBC Economics, Calgary ranks as the second most affordable major city in Canada for homebuyers, just behind Edmonton. The report also states that Calgary has a lower home price-to-income ratio than the national average, making it easier for residents to become homeowners. This is a significant advantage for those looking to purchase a home, as it provides an opportunity for building long-term wealth.

Compared to other major Canadian cities, where affordable housing is increasingly scarce, Calgary stands out as a city where residents can afford to purchase a home and build equity. For instance, in Vancouver, the average home price is nearly $1 million, while in Toronto, it's $1.1 million. In contrast, the average home price in Calgary is just over $500,000, making it a more affordable option for those looking to enter the housing market.

More recently, Calgary's housing market has also been far more stable compared to other major cities in Canada, providing an attractive option for homebuyers looking for long-term stability and affordability. Unlike cities such as Vancouver and Toronto, which have experienced significant housing price fluctuations, Calgary's housing market has remained relatively stable, even amidst rising interest rates and economic uncertainty. According to a report by the Canadian Real Estate Association (CREA), Alberta’s housing market has been weathering the recent interest rate hikes better than other provinces. This stability has made it an attractive destination for buyers who are looking for a stable and secure investment in the housing market.

The availability of affordable housing in Calgary also has broader economic benefits, attracting skilled workers and young families to the city. This, in turn, supports the growth of local businesses and the city's overall economic vitality. The city's high quality of life, coupled with its affordable housing, makes it an attractive destination for those looking to settle down, build a career, and raise a family.

Overall, Calgary's affordable housing market is a key selling point for the city, differentiating it from other major Canadian cities where housing prices are increasingly unaffordable. The city's housing market is expected to remain robust, providing opportunities for both homebuyers and renters to enjoy an affordable and comfortable standard of living.

Investment Opportunities

Calgary's real estate market offers a unique opportunity for investors looking to capitalize on a growing population and a favorable investment climate. As mentioned prior, compared to other major Canadian cities such as Toronto and Vancouver, Calgary's real estate market is relatively affordable, making it an attractive investment opportunity for investors looking to build long-term wealth.

One of the key factors driving investment in Calgary's real estate market is the city's growing population, which is projected to reach over 2 million people by 2046. This population growth is expected to created a strong demand for housing and rental properties, which will continue to drive up the value of real estate in the city. 

In terms of rental opportunities, Calgary offers a unique advantage as there are no rent caps in place. This provides investors with the freedom to set their own rental rates, making it easier to generate higher rental yields and build long-term wealth. Additionally, the cost of investment properties such as condos in Calgary is significantly lower than in Toronto or Vancouver, providing investors with a more affordable entry point into the market.

Quality of life

Calgary isn't just a great city to live in because of its strong economy, affordable real estate market, and lively cultural scene. The city's exceptional quality of life is a major draw for residents and visitors alike. With its proximity to natural wonders, friendly community, and diverse range of recreational and cultural activities, it's no wonder why Calgary is consistently ranked as one of the most livable cities in the world. According to the 2021 Global Liveability Index, Calgary ranked as the 1st most livable city in North America and the 3rd most livable city globally out of 173 cities, behind only Auckland and Osaka. The Index evaluated cities based on factors such as stability, healthcare, culture and environment, education, and infrastructure. 

One of the city's most significant advantages is its proximity to the Rocky Mountains. One popular destination is Banff National Park, located just over an hour from the city. The park boasts some of the most breathtaking scenery in the world, with snow-capped mountains, turquoise glacial lakes, and abundant wildlife.In the winter, skiing and snowboarding are popular activities in the nearby mountain resorts of Banff, Lake Louise, and Canmore. In the summer, visitors can enjoy hiking, camping, and fishing in the numerous parks and lakes around the city.

Calgary is also a city that prides itself on diversity and inclusivity. With a population of over 1.3 million people from all around the world, the city offers a rich tapestry of cultures, traditions, and customs. And what better way to celebrate this than through its vibrant events and cultural scene?

The city's crown jewel is undoubtedly the Calgary Stampede, a 10-day annual event that celebrates the city's Western heritage, culture, and community. With rodeos, chuckwagon races, concerts, and more, it's one of the largest outdoor events in the world and attracts millions of visitors annually. But the Stampede is just the beginning - Calgary has a thriving arts and cultural community that offers something for everyone.The Calgary International Film Festival is another major event that showcases the city's creative spirit, bringing together film enthusiasts from around the world. The Calgary Folk Music Festival, a four-day celebration of roots, blues, and world music, is another must-see event that draws music lovers from far and wide. And for those who prefer the visual arts, Calgary boasts a number of museums, galleries, and theaters featuring local and international talent, such as the Glenbow Museum, Theatre Calgary, and Alberta Theatre Projects.

Overall, Calgary's rich cultural scene and diverse events make it a city that's always alive with energy and excitement. Whether you're a long-time resident or a first-time visitor, there's always something new and exciting to discover

Closing words

Looking for a change of pace? Look no further than Calgary, Alberta! In 2023, this city has it all - a booming and diversifying economy with ample job opportunities, a real estate market that won't break the bank, and a lively cultural scene with endless outdoor activities to explore.

If you're considering a move to Calgary, I can help you find a home that's worth the stampede! As a real estate agent, I have extensive knowledge of the local market and can guide you through the process of buying or selling a home in Calgary. Whether you're a first-time homebuyer or a seasoned investor, I can help you navigate the market and find a property that fits your needs and budget.  If you're ready to saddle up and find your perfect home in this great city, don't hesitate to contact me for any real estate advice or assistance, I'm here to help!