Thursday, February 29, 2024

The Hybrid Work Mode: Economic Implications for Downtown Montreal

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Tony Vaughn
Tony Vaughn
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MONTREAL – Adoption of a hybrid business model by many companies will reduce traffic by 19-25% and expenditures by a maximum of 14% in downtown Montreal, at least in the short term. PwC Canada analysis predicts.

The study estimates that the decline in the number of workers who frequent this major financial center in the country will be compensated gradually “by the creation of new job opportunities resulting from economic momentum and business growth.”

The reduction in expenditures can be mitigated “if workers maintain their expenditure level by focusing on the few days they spend in the city centre”.

The analysis conducted on behalf of the Montreal Chamber of Commerce (CCMM) was revealed on Friday, as the end of mandatory remote work in Quebec, set for February 28, approaches.

It suggests courses of action to preserve the attractiveness of downtown Greater Quebec and prevent it from falling “into a downward spiral of deconstruction.”

In particular, it is proposed to improve the cultural and leisure offerings and increase the mix of uses through the promotion of housing construction and the diversification of business types.


This article was produced with financial support from Facebook and The Canadian Press News Fellowships.

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