Prince Edward Island is ‘on a tear’ as economy booms amid record tourism

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Prince Edward Island’s economy is booming, with retail sales, employment and wages all growing.Peter J. Thompson/National Post files

CHARLOTTETOWN — Tourists visiting tidy, bucolic Prince Edward Island should keep their eyes open for some swagger this summer: The smallest province is on a tear.

An expected steady rhythm of hammers and saws is just one indicator of an economic boom.

Retail sales on the Island were up 7.4 per cent last year, and employment grew by three per cent and continues to grow at that pace.

Wages grew by 3.6 per cent over the past year — third in the country behind only British Columbia and Ontario. The island is aiming for its fifth straight year of record tourism.

Chris Palmer, minister of economic development, said the Island has seen a fundamental change in attitude.

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