Winnipeg
by the
numbers
In 2022, the Manitoba and Winnipeg
economies continued to bounce
back from the effects of the
pandemic and the 2021 drought.
The tourism and hospitality sector
continued to rebound as well, with
air passenger numbers up sharply.
Total employment continued to
rise and unemployment to fall. The
labour market tightened, with the
ratio of unemployed to job vacancies
hovering close to one throughout
2022. High inflation rates in many
countries, including Canada, led
to the sharpest increase in policy
interest rates since 1981. This
weighed on capital expenditures,
including the housing sector.
Winnipeg
outlook
City of Winnipeg total
population
783,100
up 1.32% since 2021
1
WAA airline
passenger traffic
3,031,113
up 147.83% from 2021
2
40 WAA airline routes active by the end of the year
Total value of
building permits
$2,630,526
down 1.23% from 2021
3
Hotel occupancy rate
67.55%
up 68.03% since 2021
4
Hotel average daily
room rate
$140.91
up 20.22% since 2021
4
Hotel revenue per
available room*
$97.08
up 93.04% since 2021
4
Indicators
(Winnipeg census metropolitan area)
2020 2021 2022 2023f
Real GDP
1
-5.5% 1.9% 4.2% -0.4%
Employment growth -4.3% 4.4% 4.2% 0.4%
Disposable income
growth
6.5% 1.1% -0.9% 1.2%
Consumer spending
growth
-4.7% 6.4% 5.5% 0.7%
Real retail sales growth 0.4% 10.6% 0.5% 0.0%
Sources:
Note 1 City of Winnipeg, Economic Research
https://data.winnipeg.ca/City-Planning/City-Of-Winnipeg-
Population/mhuw-u7yg
Note 2 Winnipeg Airports Authority
https://www.waa.ca/assets/pages/EN_YWG_passenger_
statistics_2005_to_Q1_2023.pdf
Note 4 Winnipeg Airports Authority
https://www.waa.ca/en/passengers/flights/destinations/
Note 5 Canadian Government, Open Data Portal
https://open.canada.ca/data/en/dataset/d1e7146c-ae78-441c-
bfad-ad1861be1f21
Note 6 Destinations Canada
https://destinationcanada.domo.com/page/1991851730
Sources:
[1] Oxford Economics, Forecast for 2020 - 2023
[2] Oxford Economics, Statistics Canada, Forecast for 2021 - 2023
2022 Annual Report
13
