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Jewish institutions awaken to climate crisis, with hundreds pledging action
(JTA) — For a decade starting in 2002, Jennifer Laszlo Mizrahi devoted herself to pro-Israel advocacy. After that, the Jewish philanthropist and activist from Annapolis, Maryland, went all in to fight for disability rights, working in the field for the next decade. Now, Mizrahi is focused on climate change.
“Let me put it this way: In 2021, we donated to one climate organization, and in 2022, we donated to 17 of them,” Mizrahi said, referring to the small charity fund she runs with her husband, tech entrepreneur Victor Mizrahi. This year, the couple made their largest climate-related donation yet, sending a group of nine climate reporters to Israel to meet tech startups working on ways to reduce greenhouse gas emissions. Mizrahi and her husband have also begun commercially investing in such startups.
“I was hoping other people would solve it,” she said. “But the pace of the change is not nearly meeting the demand at the moment. I felt that even though I don’t know the subject, I’m just going to have to do it because I have kids and I don’t want this world to fall apart.”
Climate change has long ranked at or near the top of a list of issues concerning Jews in the United States, according to multiple surveys, and Jews have been heavily involved in the wider climate movement. But until recently, the issue had a marginal place on the agendas of Jewish communal organizations, which neglected climate even as the subject took on importance in the activism and policies of other religious communities and in the larger philanthropic world.
Mizrahi’s newfound emphasis on climate is an early example of a larger shift that is underway in Jewish philanthropy, a multibillion-dollar world made up of thousands of individual donors, charitable foundations and nonprofit organizations.
“It’s the beginning of what will become a more widespread focus among Jewish groups,” said Rabbi Jennie Rosenn, the founder and CEO of the Jewish climate group Dayenu. “We’re seeing an awakening to this as a profoundly Jewish issue, and awakening to the role that the Jewish community has to play in addressing the climate crisis.”
Scientists say that decisions regarding carbon emissions made in the next few years will affect life on Earth for thousands of years to come. The most recent warning came in March, when leading global experts with the Intergovernmental Panel on Climate Change published a new report, stating that “there is a rapidly closing window of opportunity to secure a liveable and sustainable future for all.”
The large Jewish populations living in the coastal United States are vulnerable to extreme storms, sea-level rise, severe heat and other weather disruptions — a situation dramatized in the recent Apple television series “Extrapolations,” in which a rabbi contends with rising sea waters infiltrating his Florida synagogue. Meanwhile, Israel is experiencing a slew of impacts from drought and floods to security threats tied regional climate-related instability.
A flooded road after heavy rainfall in the central Israeli city of Lod, Jan. 16, 2022. (Yossi Aloni/Flash90)
Israeli officials visit the site where a road collapsed into a large sinkhole at Mineral Beach in the Dead Sea on December 7, 2017. Many facilities and beaches have been closed or shut down in recent years following the increase in sinkholes caused by ever-declining sea levels, as climate change strains the country’s water resources. (Mark Neyman/GPO)
The last few months have seen a flurry of new initiatives aimed at both greening Jewish institutions and directing collective action on climate.
In December, for example, Rosenn’s group published a report calculating that endowments of Jewish organizations, from family foundations to local federations, are invested in the fossil fuel industry to the tune of at least $3 billion. The report launched an ongoing campaign called All Our Might that urges Jewish leaders to withdraw these investments and put the money toward clean energy instead.
Meanwhile, many of the most prominent Jewish organizations in the country — representing local federations, Hillel chapters, summer camps, community centers, day schools and nearly every religious denomination — had already joined a new green coalition organized by another Jewish environmental group and were preparing to unveil pledges to do more in the fight against climate change.
The unveiling of the climate pledges happened in March, under the leadership of Adamah, a nonprofit created through the merger of two stalwarts of Jewish environmentalism, Hazon and the Pearlstone Center.
“Climate and sustainability have not been on the list of priorities for the vast majority of Jewish organizations; this coalition and these climate action plans reflect a deep paradigm shift and culture change moving forward,” Adamah CEO Jakir Mandela said at the time.
The commitments made by members of Adamah’s Jewish Climate Leadership Coalition include sending youth leaders to global climate summits, reducing emissions of buildings and vehicles and lobbying the federal government to pass climate policies.
More than 300 congregations and nonprofits have joined. For Earth Day, Adamah announced a million-dollar fund offering interest-free loans and matching grants to Jewish groups for projects to reduce their greenhouse gas emissions.
If any single event can be said to mark the debut of the climate issue as a top Jewish communal priority, it is probably the recent annual conference of the Jewish Funders Network, which took place in March in Phoenix, bringing together thousands of donors and charity executives.
For the gathering’s first event, before the formal opening of the conference, a group of participants went on a field trip to downtown Phoenix to learn about the local effects of the climate crisis. Far more people signed up than organizers anticipated, and with about 55 passengers, the tour bus chartered for the occasion reached capacity. Mizrahi, who was among the participants, said the trip was helpful as a networking opportunity for like-minded philanthropists.
“We wanted to expose them to how the existential threats posed by climate change are not long term, but are already here,” Yanklowitz said. “People down in the Zone are dying every summer from heat exhaustion and dehydration.”
Based on his debrief with the group afterward, Yanklowitz feels the trip left an impact on participants.
“I didn’t hear anyone say, ‘Oh, I’m changing my commitments.’ But I did get the sense that climate change was kind of abstract for many people, and that now it really hit home,” Yanklowitz said.
The rest of the conference featured multiple talks and gatherings dedicated to climate, including on the main stage, and an announcement that Birthright, which offers free trips to Israel for young Jews, was increasing its own climate activism with the help of a new donation.
In an interview, Ellen Bronfman Hauptman and Stephen Bronfman, children of Birthright founder Charles Bronfman, said their $9 million gift is meant to honor their father on the occasion of his 90th birthday, while also bringing Birthright more in line with the values of a new generation that is environmentally-minded.
Birthright organizers will use the funding to develop programming focused on climate that could, for example, expose participants to Israel’s clean tech scene. The money is also intended to help Birthright lower its own carbon footprint, potentially by switching to electric buses or adding more vegetarian meals.
The Bronfmans hope that Birthright’s significant purchasing power in Israeli tourism will nudge the industry toward more ecologically sustainable practices.
“To me, Birthright is like Walmart — everyone wants to do business with them,” Stephen Bronfman said. “They have the power to dictate terms to their service providers and affect the supply chain.”
The widespread interest in climate mobilization among Jewish groups comes after years in which the issue languished outside the mainstream. Rosenn, the head of Dayenu, who has attended about 15 conferences of the Jewish Funder Network, noticed a change this year.
“There used to be half a dozen people at a breakfast before the program talking about climate. And it wasn’t even climate, necessarily — it was the environment writ large,” she said.
The Jewish world is, in many ways, still lagging behind the larger climate movement. Divesting endowment funds from the fossil fuel industry, for example, is seen as a bold step among Jewish groups even though at least 1,590 institutions representing nearly $41 trillion in assets have already publicly committed to doing so, according to a website tracking such pledges. About a third of the groups on the list are defined as faith-based organizations, but only three are Jewish: Kolot Chayeinu, a congregation in Park Slope, Brooklyn; the Reform movement’s pension system; and the American Jewish World Service, a global justice group.
Rabbi Laura Bellows, now Dayenu’s director of spiritual activism and education, waves matzah as she encourages major financial organizations to divest from fossil fuels at a rally in Washington, D.C., April 20, 2022. (Bora Chung | Survival Media Agency / Courtesy of Dayenu)
Adamah’s own climate plan doesn’t include a pledge to divest but only a promise that it will investigate the option of doing so for its endowment and employee retirement funds. Instead, the plan touts the group’s education and advocacy efforts, and focuses on reducing emissions at its retreat centers.
Adamah’s chief climate officer, Risa Alyson Cooper, acknowledged that Jewish community institutions have been “largely absent” from the divestment movement and said her group regards divestment as one of several required tools for addressing the climate crisis.
She said the Jewish community hit a milestone when 12 of the 20 founding members of Adamah’s climate coalition said in their climate plans that they would consider amending their financial practices. That was significant, she said, in light of the organizations’ complex and deliberate governing structures, which can make executing such changes onerous.
“While the Jewish community may have lagged behind in years past, we are catching up quickly,” Cooper said.
Such a shift would mark not only a milestone for Jewish climate activism but also a departure from how the Jewish community has historically done philanthropy, said Rabbi Rachel Kahn-Troster, executive vice president of the Interfaith Center on Corporate Responsibility.
She said wielding financial holdings for social impact has been a hallmark of advocacy by Christian groups. Last year, the Presbyterian Church (U.S.A.) opted to divest from fossil fuels in light of the climate crisis.
The Jewish community, meanwhile, has tended to act primarily through charitable donations. One of the reasons for the difference, she said, is that the Jewish community is much less centralized with communal assets spread across many endowments, making the actions of any single group relatively less impactful.
“Adamah had done some really important work to change individual behavior and grow people’s connections to the environment, but the bigger piece of bold collective action to fight the climate crisis was missing,” Kahn-Troster said. “The overall community is late to respond to the urgency of the problem. But I do think that the work of these organizations is very significant, so I’m excited to see it.”
Kahn-Troster’s historical view is informed by the legacy of her father, Rabbi Lawrence Troster, an environmental activist who had pushed for communal Jewish action on climate, and by the passion for climate justice displayed by her 15-year-old, Liora Pelavin, a member of the Jewish Youth Climate Movement, an arm of Adamah.
“Finding a meaningful Jewish space to do grassroots-level climate advocacy that many young people are demanding has been really important to Liora,” Kahn-Troster said.
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Candace Owens Claims US ‘Being Held Hostage by Israel,’ Suggests Zionists Killed JFK
Political commentator Candace Owens claimed on Friday that the US is being held “hostage” by Israel and suggested that AIPAC, the foremost pro-Israel lobbying organization in the US, was behind the assassination of former US President John F. Kennedy.
“It seems like our country is being held hostage by Israel,” Owens, a right-wing provocateur, said during the opening segment of her YouTube show, where she interviewed far-left commentator Briahna Joy Gray.
“I’m going to get in so much trouble for that. I don’t care,” Owens lamented.
Gray, who was the guest for this episode, was recently fired from The Hill‘s TV show, Rising, after aggressively cutting off and rolling her eyes at the sister of an Israeli hostage who said that Hamas sexually assaulted women during the terror group’s Oct. 7 massacre across southern Israel and that people should believe those women. Gray, who claimed her firing was politically motivated, had repeatedly cast doubt on the sexual violence perpetrated against Israeli women during the Hamas-led onslaught.
However, Owens said that part of the reasons she was addressing the subject was that people were being fired because they were “not happy … when an innocent Palestinian kid dies” or for “critiquing a foreign nation.”
Also on Friday’s show, Owens claimed US Rep. Thomas Massie (R-KY) was “wading into some dangerous waters” when, during an interview with host Tucker Carlson, he spoke about how effective the American Israel Public Affairs Committee (AIPAC) is at lobbying members of Congress and suggested the group should have to register as a foreign agent that is acting on behalf of Israel.
The reason it was dangerous, Owens said, was because “we know there was once a president that wanted to make AIPAC register, and he ended up shot … so Thomas Massie better be careful.”
Owens was referencing the fact that Kennedy wanted the American Zionist Council, a lobby group, to register as a foreign agent. However, there is no evidence the group had anything to do with Kennedy’s assassination.
Owens and The Daily Wire, which was co-founded by conservative and Jewish political commentator Ben Shapiro, parted ways after Owens flirted with antisemitic conspiracy theories for a number of months, especially following the outbreak of the Israel-Hamas war.
“In all communities there are gangs. In the black community we’ve got the Bloods, we’ve got the Crips. Well, imagine if the Bloods and the Crips were doing horrific things, murdering people, controlling people with blackmail, and then every time a person spoke out about it, the Bloods and the Crips would call those people racist,” Owens said while still at The Daily Wire. “What if that is what is happening right now in Hollywood if there is just a very small ring of specific people who are using the fact that they are Jewish to shield themselves from any criticism. It’s food for thought, right? … this appears to be something that is quite sinister.”
Additionally, after getting into a spat with an outspoken and controversial rabbi, Shmuley Boteach, she said, “Are you going to kill me? Are you going to kill me, because I refuse to kowtow to you, and I think it’s weird that you and your daughter are promoting and selling sex toys, that’s why I deem you an ‘unholy rabbi?’”
“You gross me out. You disgust me. I am a better person than you, and I do not fear you,” Owens continued.
The list of controversial incidents involving Owens continued to grow longer with time. In one case, she “liked” an X/Twitter post that promoted the antisemitic “blood libel.” The post read, in response to Boteach, “Rabbi, are you drunk on Christian blood again?”
The “blood libel” is a medieval anti-Jewish slur which falsely claims that Jews use the blood of non-Jewish children in their religious rituals.
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Hating Israel Isn’t New; How the CIA and State Department Undermined the Jewish State
“Teddy Roosevelt’s great-great-great grandson is an anti-Israel protester at Princeton,” blared a New York Post headline on May 4, 2024.
The Post reported that Quentin Colon Roosevelt, an 18-year-old freshman, and descendant of the 25th President, is an anti-Israel activist at the Ivy League university. But far from being hip and new, Quentin’s brand of anti-Zionism is old hat — he is merely continuing a long family tradition of anti-Israel activism.
There is an abundance of literature on Franklin D. Roosevelt’s views on Jews and Zionism, the belief in Jewish self-determination. Both FDR and his wife Eleanor had made antisemitic remarks. In a private conversation in 1938, then-President Roosevelt suggested that by dominating the economy in Poland, Jews were themselves fueling antisemitism. And in a 1941 Cabinet meeting, FDR remarked that there were too many Jewish Federal employees in Oregon. In his final days, FDR promised Saudi leader Abdul Aziz Ibn al Saud that he would oppose the creation of Jewish state in the Jewish people’s ancestral homeland.
FDR is the president who led the United States to victory against Adolf Hitler. He also employed Jews in high-ranking positions in his government. But he is also the president whose administration failed to save more Jews fleeing Nazism, and who refused to bomb the railway tracks leading to Auschwitz and other death camps where millions of Jews met a ghastly end. Accordingly, it makes sense that his beliefs regarding Jews have been the subject of books and belated study.
Less examined, however, is the Oyster Bay branch of the Roosevelt clan, and their beliefs regarding Zionism. In part, this is easily explained by the unique place that FDR holds in American history. He is the only president to serve four terms, and presided over both the Great Depression, World War II, and arguably the beginning of the Cold War. His branch of the family, the Hyde Park Roosevelts, were Democrats and remained active in public life for decades after his 1945 death.
At first glance, the Oyster Bay Roosevelts were more of a turn of the 19th century affair. They were Republicans, and their scion was Teddy Roosevelt, a war hero turned governor of New York state who, thanks to an assassin’s bullet, found himself as the nation’s leader in 1901.
The famously ebullient Roosevelt helped redefine the country’s idea of a president, and served as an inspiration for his cousin Franklin. But Teddy largely presided over an era of peace and tranquility, not war and upheaval.
Teddy was a philosemite. He was the first occupant of the Oval Office to appoint a Jewish American to the Cabinet. He championed the rights of Jews, both at home and abroad, and was harshly critical of the numerous pogroms that unfolded in czarist Russia.
As Seth Rogovoy has noted, Roosevelt’s “special relationship with Jews was forged during his time serving as police commissioner in New York City, a post he assumed in 1904.” When an antisemitic German preacher named Hermann Ahlwardt gave speeches in the city, Roosevelt assigned a contingent of Jewish police officers to guard the man.
Roosevelt was also a Zionist. In 1918, shortly after the Balfour Declaration, he wrote: “It seems to me that it is entirely proper to start a Zionist state around Jerusalem.” He told Lioubomir Michailovitch, the Serbian Minister to the United States, that “there can be no peace worth having … unless the Jews [are] given control of Palestine.” Six months later Roosevelt died in his sleep.
Not all his descendants would share his belief in Jewish self-determination, however.
Two of Teddy Roosevelt’s grandchildren, Kermit and Archie, served their country in the CIA during the early years of the Cold War. Both were keenly interested in Middle East affairs, and were fluent in Arabic. Both were well read and highly educated, authoring books and filing dispatches for newspapers like the Saturday Evening Post, among others.
They were also prominent anti-Zionists.
Kermit Roosevelt, known as “Kim,” played a key role in anti-Zionist efforts in the United States and abroad. He was not, by the standards of his time, an antisemite. But he was ardently opposed to the creation of Israel.
As Hugh Wilford observed in his 2013 book America’s Great Game: The CIA’s Secret Arabists and the Shaping of the Modern Middle East: “the anti-Zionism of the overt Cold War foreign policy establishment is well known” but “less widely appreciated is the opposition to Jewish statehood of the individuals responsible for setting up the United States’ covert apparatus in the Middle East.”
This began with the OSS, the CIA’s precursor. And it included men like Stephen Penrose, a former American University of Beirut instructor, and Kim Roosevelt’s boss during his wartime service in the OSS.
“Documents among Penrose’s personal papers reveal him engaged in a variety of anti-Zionist activities at the same time that he was commencing his official duties with the OSS,” Wilford notes.
Like many of his fellow Arabists, Penrose was the son of American missionaries who, failing to convert the native population to Christianity, sought to foster Arab nationalism instead. Penrose described himself as a “chief cook” who was “brewing” opposition to Zionism. He became one of Kim Roosevelt’s mentors.
In a January 1948 Middle East Journal article entitled, “Partition of Palestine: A Lesson in Pressure Politics,” Kim called the 1947 UN vote in favor of a Jewish state an “instructive and disturbing story.”
Roosevelt believed that the US media was unduly supportive of the creation of Israel, and claimed that almost all Americans “with diplomatic, educational, missionary, or business experience in the Middle East” opposed Zionism.
Kim’s pamphlet was reprinted by the Institute for Arab American Affairs, a New York-based group whose board he sat on. He also began working with the Arab League’s Washington, D.C., office and “turned elsewhere for allies in the anti-Zionist struggle, starting with the Protestant missionaries, educators, and aid workers.”
This nascent group soon received financial support from the American oil industry, which maintained close links to Kim’s OSS/CIA colleague, William Eddy.
As Wilford noted, the Arabian consortium ARAMCO “launched a public relations campaign intended to bring American opinion around to the Arab point of view.”
In addition to missionaries and big oil, Kim gained another important ally in the form of Elmer Berger, a rabbi from Flint, Michigan. Berger served as executive director of the American Council for Judaism, an anti-Zionist group that, among other things, opposed the creation of a Jewish army during World War II at the height of the Holocaust. Berger and Roosevelt became drinking buddies and close collaborators on their joint effort against the Jewish State.
Kim eventually became “organizing secretary” for a group called The Committee for Justice and Peace. The committee’s original chair, Virginia Gildersleeve, was both a longtime friend of the Roosevelts of Oyster Bay and the dean of New York City’s Barnard College, which today is part of Columbia.
Gildersleeve was “also a high-profile anti-Zionist” who “became involved with the Arab cause through her association with the Arabist philanthropist Charles Crane and the historian of Arab nationalism George Antonius.”
Crane, a wealthy and notorious antisemite, had lobbied against the creation of a Jewish state since the beginning of the 20th century, even advising then-President Woodrow Wilson against supporting the Balfour Declaration.
By 1950, the Committee had managed to recruit famed journalist Dorothy Thompson to their cause. Thompson was reportedly the basis for actress Katharine Hepburn’s character in the 1942 movie Woman of the Year. A convert to anti-Zionism, Thompson’s extensive network of reporters and celebrities proved crucial to Kim and Berger’s efforts to rally opposition to the Jewish State. In a 1951 letter to Barnard College’s Gildersleeve, Thompson wrote: “I am seriously concerned about the position of the Jews in the United States.” People, she claimed, “are beginning to ask themselves the question: who is really running America?”
Another ally emerged that year: the Central Intelligence Agency.
The CIA began funding the Committee, as well as its successor, the American Friends of the Middle East (AFME). Beginning in June 1950, Kim’s correspondence with Berger began making veiled references to the ACJ head taking on “official work” in Washington. This, Wilford believes, is a reference to working with the CIA. Indeed, the well-connected Kim and Archie Roosevelt had known top CIA officials like Allan Dulles since childhood.
With support from figures like Eddy, AFME also began encouraging Muslim-Christian alliances — ostensibly to counter Soviet influence, but also to attack the Jewish state. This led to some awkward alliances, including with Amin al-Husseini, the founding father of Palestinian nationalism and an infamous Nazi collaborator.
Husseini had ordered the murders of rival Palestinians, incited violence against Jews since the 1920s, and had led forces, equipped with Nazi-supplied arms, to destroy Israel at its rebirth in 1948. Now, along with the Secretary General of the Arab League, and Saudi King Ibn Saud, he was meeting with Eddy to discuss a “moral alliance” between Christians and Muslims to defeat communism. Kim himself knew Husseini, having interviewed him for the Saturday Evening Post after World War II.
AFME lobbied for the appointment of anti-Zionist diplomats and in favor of Eisenhower administration efforts to withhold aid from Israel. And both Berger and Thompson pushed for favorable coverage of the new Egyptian dictator, Gamal Nassar, who would wage war on the Jewish state for nearly two decades. Initially, they were successful, with TIME magazine writing that Nasser had the “lithe grace of a big, handsome, all-American quarterback.” Of course, there was nothing “all-American” about Nasser, who would become a Soviet stooge.
AFME officials like Garland Evans Hopkins would draw rebukes after claiming that Jews were bringing violence against themselves — a staple of antisemitism. Hopkins claimed that Zionists “could produce a wave of antisemitism in this country” if they continued acting against “America’s best interests in the Middle East.”
AFME itself would eventually lose influence, particularly after its boosting of figures like Nasser was revealed as foolhardy. Berger would go on to advise Senator J. William Fulbright (D-AR) in his efforts to get pro-Israel Americans to register as foreign agents.
In 1967, as Arab forces gathered to annihilate Israel, Berger blamed the Jewish State, accusing it of “aggression” and its supporters of “hysteria.” Top ACJ officials resigned in protest. That same year, Ramparts magazine exposed CIA support, financial and otherwise, of AFME.
Kim and Archie Roosevelt, however, would continue their careers as high-ranking CIA officers before eventually starting a consulting business and making use of their extensive Middle East contacts.
For some college protesters, attacking Israel — and American support for Israel — might seem new and trendy. Yet, both the CIA and big oil were precisely doing that, decades ago, forming alliances with anti-American dictators, antisemitic war criminals, the press, Protestant groups, academics, university administrators, and fringe Jewish groups claiming to represent “what’s best” for American Jewry.
As William Faulkner once wrote: “The past is never dead. It’s not even past.”
The writer is a Senior Research Analyst for CAMERA, the 65,000-member, Boston-based Committee for Accuracy in Middle East Reporting and Analysis
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Canada’s economic growth projected to be about 1% in the first half of 2024
Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.
With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.
Steady projected growth for first half of 2024
Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?
Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.
Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.
Growth in second half of 2024 expected
Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.
Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.
Canada’s economic growth mirrors iGaming’s rise
When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.
This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.
This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.
This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.
Future economic outlook for Canada in line with global expectations
When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.
Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.
The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.
Canada set for further growth in 2024
Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.