High availability of freelance workers, easing of government regulations and a very robust payments infrastructure are helping Canada climb up the ranksDownload the Full Index
Marketplace Expansion Index Rank
Up 3 Spots from 2018 Index Rank of #8
- Consumer demand for on-demand/marketplace services is high
- High level of payments infrastructure
- Government support for digital economy
- Large geographic area
- Concentrated population pockets
- Uncertainty about government regulation
Facts You Can't Forget
A Temporary Thing. According to Statistics Canada, 2.18 million Canadians (or roughly 6 percent of the population) were considered temporary workers in September 2017.
Lagging Behind. According to the 2017 EY Fintech Adoption Index, only 18 percent of digitally active consumers in Canada had used at least two fintech products in the prior six months, compared to an average of 33 percent in other countries.
Waiting to Connect: Rural Canadian communities are still 25 per cent behind urban cities in terms of internet speed, according to a report by the CIRA.
For our full explanation, visit our methodology page
The fundamentals of any society and enterprise, including: payment infrastructure, ease of doing business, and Logistics Performance Index.
You’re only as good as your people. Factors in this category include: levels of English proficiency and participation in freelance employment.
This category assessed ecommerce opportunity size, retail ecommerce growth and ecommerce as a percentage of retail transactions.
The fate of foreign entrants, based on the volume of cross-border transactions and if a global marketplace dominates that geography.
"The number of financial institution-fintech partnerships in Canada is much higher than in most other countries. 62% of financial institutions declared they are actively involved in partnerships with fintech companies, and 88% said they would increase partnerships going forward."
"We're proud of some of the social protections that Canada has in place, but ... they are not rapidly evolving to address what one would consider to be these arrangements that make people more private contractors and less employees."
"Nearly three quarters (73%) of Canadian millennials say that they have, had, or anticipate having, some form of gig job…"