Financial sustainability and innovation culture in Canada

On the 3^rd June 2016 GILE Experts Limited and Mokymų ekspertai (http://www.mokymuekspertai.lt) united 15 financial specialists from Malta, Lithuania and Canada in Toronto. Experts represented companies of such industries as Real Estate, Education, Sport and Leisure, Catering, Lasers, Physical Infrastructure, and Finances.

Financial Consultant Monika Kučinskaitė (Manulife Securities, Canada) over-viewed the market trends of this North American economy while focusing, in particular, on the Ontario District.

Apart from being rich in natural resources (oil, mining, forests, water and etc.) Canada is an innovation-driven economy with a strong focus on education, social innovations, pharmaceuticals/ bio-technologies, environmental protection, and cultural diversity.

According to Kučinskaitė, it is like an efficient fusion of French, British and American business culture; however, at the same time it is unique thanks to a clear orientation of Canadian companies towards creative and innovative talent management, where a strong attention is paid to employees with a multilingual profile and rich international experience.

The financial literacy of Canadian citizens was strongly emphasized during the seminar, as according to Kučinskaitė (2016), ‘debt-to-income ratio is not in favor of Canadian citizens: in some cases mortgages and loans double personal income’. Therefore, a sound risk and financial portfolio management is necessary.

Being open and ready to embrace different cultures and communities, Canada opens new horizons for creative ideas and innovations, which makes Canada an attractive country to live, study, and develop business.