Read full articleCanada is underestimating the number of non-permanent residents living in the country by nearly one million, a new CIBC Capital Markets report says. REUTERS/Carlos Osorio
Statistics Canada's definition of non-permanent residents includes those with temporary work or study permits. The agency assumes non-permanent residents exit within 30 days of their visas expiring, but Tal says "the majority of those temporary residents don't leave after their visas expire." Tal estimates the number of NPRs who overstayed their visa expiry date between 2017 and 2022 was north of 750,000.
"And if your starting point is far too low, your forecast will be far too low, resulting in a suboptimal planning process."
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