The South Island Prosperity Index provides a snapshot of the region’s current competitive position in relation to peer cities across Canada and around the globe. These benchmarks provide the context we need to set priorities and champion our strengths so that we can attract more investors, entrepreneurs and talent that can push us to the next level of performance.
Unlike traditional measures, such as the Gross Domestic Product (GDP), the Index provides a holistic view of regional prosperity across five themes:
These themes were selected to align with best practices used by some of the world’s most progressive and leading cities. They correlate to the ISO 37210 framework (an international standard used by the World Council on City Data), allowing our region to benchmark and compare itself to cities and regions across Canada and the world.
The Prosperity Index features data on close to 140 indicators, including contextual indicators that were added to apply an economic lens that is critical to identifying our region’s strengths.
2017 is foundation year for the Prosperity Index, and will serve as a baseline that will be used to monitor trends and track our progress over time.
As the presenting sponsor of the first annual South Island Prosperity Index, we’re looking forward to introducing the monthly Featured Indicator. This month, we’d also like to introduce ourself! Not only is Coastal Community Credit Union the largest Island-based financial institution, we’re 100% island-owned with local decision-making power. We offer caring and helpful service integrated across our business lines, including wealth management*, insurance**, and personal and commercial banking. While learning about the featured Gini Coefficient indicator measuring wealth distribution, remember that no matter where on the scale your household income falls, you can talk to one of our experts on how to develop a comprehensive wealth plan that will help you reach your goals and dreams.
*Wealth management services provided through Coastal Community Private Wealth Group, a division of Coastal Community Financial Management Inc., a wholly owned subsidiary of Coastal Community Credit Union. **Insurance services provided through Coastal Community Insurance Services (2007) Ltd., a wholly owned subsidiary of Coastal Community Credit Union.