Study Pegs Aboriginal Spending At $24 Billion

Study Pegs Aboriginal Spending At $24 Billion

Friday, June 17, 2011 at 14:57

A business expert says he thinks a lot of people will be surprised by a new study on the spending power of Aboriginal people in Canada.

TD Economics estimates the combined spending total of Aboriginal households, businesses and government agencies that fund Aboriginal communities will reach $24 billion this year.

That’s double the $12 billion dollars recorded in 2001.

Clint Davis is the president of the Canadian Council for Aboriginal Business.

Davis says significant growth is happening in the small business sector, as well as community-owned development corporations.

He says Aboriginal people have known their business sector is growing for some time now, but he’s not sure the general public did.

Davis hopes the study convinces outside companies that doing business with Aboriginal communities isn’t just a moral imperative, but rather, an economic advantage.