The Centre’s Trillion-Dollar Question Project Held over 50 Executive Interviews, Surveyed More Than 175 Business Leaders, and Ran Five Workshops to Discern How Canada Can Survive and Thrive Postvaccine
TORONTO—Today, Boston Consulting Group (BCG) and the BCG Centre for Canada's Future released new research that explores Canada’s pandemic recovery as vaccines roll out, recommending priorities for businesses, governments, and other institutions to thrive as the crisis enters its next phase. The Trillion-Dollar Question: How Canada Can Survive and Thrive in the Postvaccine Normal found there are six critical actions for Canadian leaders to adopt to both deal with the pandemic’s legacy and capture the unexpected opportunities it has created.
“We started by asking the question of how Canada could survive and thrive in the postvaccine normal,” said Keith Halliday, director of BCG’s Centre for Canada's Future. “We want to provide private and public sector leaders with a widely applicable playbook tackling the key postvaccine success factors that will enable them to succeed in a highly uncertain future environment.”
The Trillion-Dollar Question included a comprehensive research program to gather perspectives from Canadian CEOs, senior executives, and other thought leaders on how Canada can survive and thrive in the postvaccine normal. The data from this outreach has been distilled into six priorities for the country over the next 18 to 36 months, including: talent, digital, post-COVID-19 life and work, climate and energy, social cohesion, and national resilience.
“With the vaccine rollout now underway, the question isn’t if we will get through the current crisis, but what Canada will look like once the pandemic subsides,” said Christine Wurzbacher, managing director and partner at BCG Montreal. “We now know whole-of-society collaboration is possible to achieve big things, and we must take actions that can secure a prosperous future for the next generation.”
Six Critical Actions for Postpandemic Recovery
BCG’s research identified six no-regrets moves that Canadian leaders can take based on key success factors, including redoubling efforts to advance high-priority pre-crisis initiatives and acting with equal conviction to build on the rapid adaptations made during the crisis.
These actions will have a profound impact on economic growth, which is critical to both sustaining our post-COVID-19 debt as well as funding the economic and social investments critical to thriving in the long run. BCG data shows an incremental increase in Canada’s annual growth rate by just 1 percentage point can boost GDP by about $250 billion by 2030—or $6,000 per Canadian. Achieving these goals will require collaboration across governments, corporate Canada, and other players.
To learn more about the recommendations of BCG's Centre for Canada's Future and read The Trillion-Dollar Question: How Canada Can Survive and Thrive in the Postvaccine Normal in its entirety, visit here.
About BCG's Centre for Canada's Future
BCG established the Centre for Canada's Future in 2017 to contribute to the national dialogue, and spark action on key economic issues. The Centre's mission is to be a catalyst for moving Canada forward, leveraging BCG's capabilities in collaboration with Canadian leaders from across the private and public sectors.
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.