Article content continued

An area that’s long been at the heart of both Calgary’s prosperity, as well as many of its social and infrastructure challenges, has been annual population growth, which during Alberta’s last oil surge in 2014 jumped to four per cent.

According to city economists, Calgary’s population is anticipated to grow by 150,000 over the next 10 years, reaching an estimated 1.4 million by 2026. That amounts to an annual growth rate of between one per cent and 1.3 per cent.

However, the growth will also come with a significant demographic shift.

Long known as one of Canada’s youngest cities, the city forecast suggests Calgary will see its older populations grow while the number of young adults will decline.

Calgarians aged 65-plus will see the largest increase, growing by about four per cent per year and rising to a total of 206,000 by 2026, the forecast suggests. Those aged 40 to 50 will see the second largest growth, ultimately reaching 240,000 by 2026.

Meanwhile, those in the 20 to 34 demographic, which had generally been one of the city’s strongest growth areas, will decline by about nine per cent to 267,000 over the next 10 years, said city economists.

As the economy appears to be moving down to a slower gear, the city needs to match the slowing pace, said Coun. Ward Sutherland, who was formerly the vice-chair of the city’s finance committee.

And that means when council gathers at the end of the month to hammer out its four-year budget, some difficult decisions will have to be made, he said.