Environics Analytics Releases Whitepaper On Financial Impact of Recession and Recovery
Environics Analytics (EA) today released a new whitepaper on the impact of the recent recession on Canadian households, entitled “Crisis and Recovery: Wealth Shifts from 2007 to 2011.” While Canada’s economy emerged from the global financial crisis in much better shape than any of its G8 peers, Canadian households responded by dramatically changing their financial priorities—many becoming risk-averse in the aftermath of the recession.
Written by EA Senior Research Associate Peter Miron, the whitepaper analyzes the changing nature and distribution of the wealth of Canadians during the economic downturn and subsequent recovery. The analysis was conducted using EA's WealthScapes 2011, a database that calculates household assets, debts and net worth of Canadians at the neighbourhood level. Illustrated with authoritative tables and charts, the 53-page whitepaper also examines the uneven impact of the global financial crisis on provinces and cities across Canada.
Among other findings, the whitepaper reveals:
- Which Canadian households became the most financially risk averse in response to the downturn
- Why the wealthiest provinces in Canada have typically been the slowest to recover
- Which mid-sized cities experienced the highest growth in net worth in the wake of the upheaval
- How marketers can use this information to better understand their customers and make more informed decisions at the national, provincial, regional and neighbourhood levels.