Last August, the AFMC released a ground breaking report on the economic impact of Canada’s faculties of medicine and their health science partners. This new report marks the end of an in-depth study showing how the investment in academic medicine stimulates our economy, creates jobs and generates tax revenues that benefit all Canadians.
- Faculties of medicine and their teaching hospitals account for $66.1 billion in total economic impact (3.5% of GDP).
- Faculties of medicine and their teaching hospitals create more than 295,000 jobs throughout Canada.
- One in 60 jobs in the country is attributable to faculties of medicine, their teaching hospitals and other health science partners (1.7% of all employment in the country).
- Faculties of medicine and their hospital affiliates generate more than $13.9 billion in government tax revenue.
You can view the complete Economic Impact Study here.
October 9, 2014