Vancouver Island’s prospects are not as bleak as they first appear
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Other than in the urban centre of Victoria, the Vancouver Island economy including its short term loans is made up largely by forestry, with tourism and fishing also playing major roles. Vancouver Island also has an information technology industry that is developing strongly. Broadband internet service is provided to Vancouver Island business by Shaw, Telus, CRTV and CRCable.Net. Wireless internet can be found throughout Vancouver Island and many allow free access. Post-secondary education is an economic driver in Greater Victoria with over 50,000 students and staff. The University of Victoria, Royal Roads University, and Camosun College are the main post-secondary institutions in the Greater Victoria region. Vancouver Island University, formerly known as Malaspina University-College, has its main campus in Nanaimo and other campuses in Duncan, Parksville, and Powell River.
After having outperformed the country as a whole for more than a year, there is clear evidence that most of Vancouver Island’s key industrial drivers have been effectively knee-capped by the direct and indirect effects of the global recession.