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Meet the 2 Jews of Guyana, a South American nation with a tradition of religious tolerance

(JTA) — When Janet Jagan, an immigrant from the United States, made history by becoming Guyana’s prime minister in 1997, she was thought to be the country’s only Jew.

In fact, another Jew had recently purchased an island off the coast of Guyana, and 25 years later, there are at least two Jews living in the tiny South American nation. One is a Guyanese-British-Israeli guesthouse operator who has been working in Guyana since the 1970s. The other is a former Madison Avenue marketing executive from Chicago who until recently ran the country’s largest tour operator.

Both offer a window into three dynamics that define Guyana: a government that embraces all faiths, an economy based on extractive industries and an expansive rainforest the country hopes will be a draw for its growing ecotourism industry.

Guyana, an English-speaking country of roughly 800,000, came to international prominence in 1978 as the site of the Jonestown massacre, in which more than 900 followers of cult leader Jim Jones were killed, either by suicide or murder.

These days, though, the country is drawing attention for the recent discovery of oil off its coast. ExxonMobil announced the discovery in 2015 and promptly began developing Guyana’s oil resources. With over 11 billion barrels of reserves and producing over 350,000 barrels per day, Guyana is on track to produce more than 1 million daily barrels by 2030, potentially transforming one of South America’s poorest countries.

It was an earlier extractive industry that first brought Raphael Ades to Guyana. Born in Tel Aviv in 1951 to an Italian-Jewish mother and a Syrian-Jewish father, Ades had a peripatetic childhood. The family moved first to Milan when Ades, who goes by Rafi, was 11, after his father Meyer entered the diamond trade, then two years later to southwestern Germany. They landed in Pforzheim, known at the time as Goldstadt because of the prominence of jewelry and precious stone trading locally.

But the family was not yet settled: In 1967, Meyer took the family to London, where Ades finished high school and took his university entrance exams, excelling in all of the languages he had picked up — English, French, Italian, German and Hebrew. As a psychology student at the University of London, Ades began helping his father, who maintained an office in London’s diamond district, at work. His father contracted out the polishing, and one of the polishers was Indo-Guyanese.

“That day, my dad took out the atlas and started to read up on Guyana,” Ades recalled. “‘This is somewhere I want to go,’ he told me.”

During a trip to visit an Israeli friend in Venezuela, Meyer went on a prospecting trip to Guyana, and registered the Guyana Diamond Export company. When he suffered a heart attack, Ades and his mother flew to Georgetown to be with him. Barely 21, Ades stepped in to take a larger role in the business. He flew with other diamond buyers into the rural mining areas, and learned the operations were producing thousands of carats of diamonds.

“I stayed in Guyana through the second half of 1972 and fell in love with the place,” Ades recalled. “I went to the [main] Stabroek market in Georgetown, seeing all of the iguanas and macaws. When my dad recuperated, I started going back to Guyana myself.”

His mining business thrived. In 1997, he bought Sloth Island, a 160-acre outpost about a two-hour journey from Guyana’s capital, Georgetown, requiring an hour-long car ride through the small villages that dot the Atlantic coast, and then an hour’s boat ride down the widening Essequibo River, passing pristine forests lined with mangroves and Indigenous villages.

When Ades bought the property, it was mostly underwater. He brought in workers from neighboring villages to pump out the water, build up the sand and retaining walls and add structures. Sloths were already there, but he brought ocelots and monkeys from neighboring islands, as well as other birds. (The ocelots, he said, used to eat the electrical wires and open the fridge.)

Now anchoring Sloth Island is a blue and white guesthouse, a series of covered huts for dining and hammock relaxation and a wooden walkway for nature walks through partially cleared forest. Indigenous guides identify the numerous species of plants and birds. The pandemic has receded as a threat to business, and the island hosts tourists every weekend — though climate change is presenting new issues.

“There are many times that the river floods part of the island and I lose sand and soil,” Ades said. “We have to keep on pumping out water and repairing damage to the buildings when that happens.”

The year after he bought the island, his widowed mother, then living in Belgium, broke her hip. When she was well enough to travel she moved to Guyana to be with her son, dividing her time between Georgetown and Sloth Island. When she died in 2009, Ades was at a loss given the lack of a Jewish cemetery, synagogue, and minyan required to say the Mourner’s Kaddish. He was interested in burying her across from Sloth Island, on a hill in the mining town of Bartica just across the river. But a Jewish friend from France facilitated a connection with the Surinamese Jewish community, who prepared the body for burial in the cemetery adjacent to Paramaribo’s main synagogue.

“That’s the last time I was in a synagogue, in 2010, after my mother passed,” Ades recalled.

A view of Raphael Ades’ resort on Sloth Island. (Seth Wikas)

The absence of Jews in Guyana is a notable lacuna in a country that otherwise boasts a broad range of religions. History records a colony of Dutch Jews who settled in northwestern Guyana in the 17th century to produce sugarcane, but the English destroyed that colony in 1666, dispersing the Jewish residents. Jews from Arab lands moved to Guyana in the late 19th and 20th centuries to escape persecution but then migrated elsewhere; Jews fleeing Europe came in 1939 but did not settle long enough to establish a sustained community.

Janet Jagan was an anomaly: Born Janet Rosenberg in Chicago, she married a Guyanese man in the United States and moved with him to Guyana in 1947. Her father Cheddi Jagan was trained as a dentist but entered politics as Guyana gained independence from Great Britain, serving as the first premier of the semi-independent colonial government in the early 1960s and then as the country’s fourth president in the 1990s. When he died in 1997, Janet Jagan was sworn in as his replacement and then won a term of her own later that year. She died in 2009.

According to the 2012 census, Guyana is about two-thirds Christian, a quarter Hindu, and less than 10% Muslim, with smaller populations of Rastafarians and Baha’is. Guyana’s cities and towns are dotted with churches, mandirs and mosques, and the country has enshrined freedom of religion in its constitution. Christian, Hindu and Muslim holy days are national holidays.

“We embrace all faiths and are always looking to build bridges across communities,” Mansoor Baksh, a leader within the country’s Islamic Ahmadiyya movement, told JTA. Omkaar Sharma, a member of the country’s Hindu Pandit Council, said something similar: “We have a long tradition of co-existence and celebrating each other’s holidays. It’s what makes Guyana special.”

On the occasion of the Hindu festival of Diwali last month, President Mohamed Irfaan Ali, South America’s only Muslim head of government, emphasized the country’s inclusivity when he told the nation: “Under the One Guyana banner, our people are coming together, rejecting the forces of division and hatred, and uniting in the pursuit of peace, progress and prosperity.”

The sentiments have had practical implications for the country’s two Jews. In 2017, when a Guyana Tourism Authority group was slated to travel to Suriname for a conference on travel catering to Muslim tourists, the Mauritanian organizer of the event protested the presence of Jewish participants. There were supposed to be two: Ades, and Andrea de Caires, then head of the country’s largest private tour operator, Wilderness Explorers.

“I got a call from the Guyanese Tourism Minister at 1 a.m., who asked me if I was Jewish, and he explained the situation. And I thought, this [antisemitism] is still going on in the world?” de Caires remembered.

The Guyanese tourism minister refused to abide by the ban, de Caires proudly said, and told the Surinamese hosts and conference organizers: “If Jews aren’t allowed, then none of us are going.” The Surinamese, long known for their religious tolerance, also refused to accept the prohibition, and said that all participants were welcome (in Suriname’s capital Paramaribo, a mosque stands next to a synagogue and they share a parking lot). Both de Caires and Ades attended the event.

“When I arrived at the conference, the Surinamese minister of tourism welcomed me, and the director general of Guyana’s tourism ministry gave me the microphone to open the conference. We [Rafi and I] went in with our heads held high,” de Caires said.

De Caires has lived in Guyana since 2010 but her path to Guyana took a different route from Ades’. Born Andrea Levine in Chicago as the granddaughter of a rabbi, she traveled extensively as a child with her physician father, who taught her the importance of creating a Jewish home.

“Judaism was always a part of my life — we celebrated the holidays, lit candles on Friday night, but my father would often say, ‘Going to temple doesn’t make you Jewish,’” Caires said.

De Caires moved to New Jersey and trained as a jeweler, working with clients that included Tiffany’s. She transitioned to working at Bloomingdale’s in sales and then management, and then she moved on to the cosmetic company Borghese, where she became vice president of sales and marketing.

“I got caught up in Madison Avenue, a single mom of three kids, and then I met Salvador,” she recalled. “And I knew there was no point in pursuing a relationship if I wouldn’t move to Guyana.”

Salvador is Salvador de Caires, her Guyanese husband whom she met through her sister. Visiting Guyana for the first time in 2008, she fondly recalled her first visit to the Karanambu Lodge in the country’s south, a former cattle ranch that is now a conservation hub sitting at the center of Guyana’s forests, rivers, and savannahs. The most accessible route is via airplane from Georgetown and then four-by-four vehicle. While based at the lodge, de Caires continued to take conference calls for her New York-based career, while learning more about Guyana and the business of running a tourist destination off the beaten path. She and Salvador moved permanently to Guyana in 2010 to take over the day-to-day management of the lodge.

“When we moved to Guyana, it never occurred to me there would never be a Jewish community here. There’s a Jewish community everywhere,” de Caires remembered thinking. “That was pretty startling.”

Andrea de Caires is shown with Guyanese President Irfaan Ali. (Courtesy of de Caires)

So when they moved from Karanambu in 2016 to work at (and eventually lead) Wilderness Explorers in Georgetown, de Caires was committed to opening her home to Guyanese friends and neighbors with Hanukkah parties and Passover seders.

“The first year we had a Hanukkah party, our invitation went out for latkes and black cake (a traditional Guyanese dish), and we had government ministers, ambassadors and local friends over,” she recalled. “I told the story of the holiday and we lit the candles.”

It wasn’t the first time de Caires had been single handedly responsible for the fostering Jewish traditions in Guyana. She recalled an incident in 2012 when a Colombian-Jewish tourist came to Karanambu Lodge during Passover and asked her to make matzah brei. Under a thatched roof, she was able to make the holiday delicacy for her visitor.

For Ades, too, it is hosting that makes him most appreciate his chosen home in Guyana.

“I will always remember Feb. 1, 1963, the day we left Israel. We had always planned to return,” he said. “But I’m still here. Between then and now I have lived in so many places, and Guyana has been my home for a very long time. One of the best parts of my week is meeting new people who come to Sloth Island — people of different backgrounds from around the world. It is wonderful to welcome them all.”

De Caires plans to share her Jewish traditions once again next month, hosting another Hanukkah party for her Guyanese friends and neighbors. And with the worst of the pandemic in the rearview mirror, both Ades and de Caires are looking forward to booming tourist seasons. De Caires and her husband are also ready to begin a new professional chapter: They recently accepted new positions with a Guyanese conglomerate to develop its tourism operations at a riverine resort.

Does de Caires feel like she has lost something by establishing roots in a place without an established Jewish community?

“If I left here, that would mean there’s one less person to support others [including Jews],” de Caires replied. “I think it’s interesting Rafi and I are both in tourism — you need to have a lot of tenacity, but it’s important that we welcome others to this beautiful country.”


The post Meet the 2 Jews of Guyana, a South American nation with a tradition of religious tolerance appeared first on Jewish Telegraphic Agency.

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Candace Owens Claims US ‘Being Held Hostage by Israel,’ Suggests Zionists Killed JFK

Candace Owens speaks at CPAC on March 2, 2023. Photo: Lev Radin via Reuters Connect

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.

The post Candace Owens Claims US ‘Being Held Hostage by Israel,’ Suggests Zionists Killed JFK first appeared on Algemeiner.com.

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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
The post Hating Israel Isn’t New; How the CIA and State Department Undermined the Jewish State first appeared on Algemeiner.comhttps://www.algemeiner.com/.

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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.

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