It’s quite well known that Canadians love their beer almost as much as they love their hockey, Tim Horton’s, and Celine Dion. However, our northern neighbors have also supported their economic growth and stability by consuming a massive amount of the national beverage. In a new report issued by the Conference Board of Canada, we find out that:
- The beer economy supports 1 out of every 100 jobs in Canada, generating $5.8 billion in government revenues in the form of product, income, and corporate taxes.
- The brewing industry is over three times larger than the wineries and distilleries industries in Canada combined.
- Beer’s supply chain stretches across the country. Beer consumption in one province supports jobs in many other provinces along its supply chain.
- The industries that support the beer industry generate multiplier effects. For every $1 spent on beer in Canada, $1.12 in GDP is generated across the country.
- Increasing Canadian beer exports by $10 million would result in a $10.54 million boost to GDP and would support 70 jobs.
Impressive numbers for any country, even for one that generates such awful pop music. Looking right at you, Bieber. [Yahoo! Canada]
In weird news, beer is losing ground to wine and spirits as the alcoholic beverage of choice among men ages 21-27, but is mysteriously gaining ground among women the same age. Marketers are attributing the switch to folks branching out, refining their taste palates, and trying new things. Good news for spirits manufacturers, which are about to see a global growth decline, according to a report from the Spirits Business. [Restaurant News]
Law360 is reporting on legislation in the Senate which would update the definition of a “hard cider” within the Internal Revenue Code, in order to reduce taxes and classifying the beverage as a beer. Previously it was classified as a wine. [Law 360]