When compared to the other provinces in Canada, B.C. gets to keep its top spot for economic growth.

With a good performance in the last two years, B.C.'s economy is expected to grow by 2.7 per cent in 2016, ahead of all the other provinces, according to The Conference Board of Canada's Provincial Outlook: Winter 2016.

"British Columbia posted the strongest economic growth last year and, thanks to widespread gains, is expected to lead the provincial growth rankings over the next two years," said Marie-Christine Bernard, Associate Director, Provincial Forecast, in a statement.

Aside from B.C., only Ontario, Manitoba, and Nova Scotia can expect to see economic growth greater than 2 per cent this year.

Photo Credit: The Conference Board of Canada.

The slump in oil prices is expected to have a continuing effect on the economies of Alberta, Saskatchewan, and Newfoundland and Labrador.

In B.C., the goods and service industries are forecast to grow strongly in 2016. This will encourage more Canadians—especially those how got their paycheck through oil—to move out west.

Solid demand for new homes will keep housing starts elevated at 32,700 units this year and next. With less housing available, prices are still on the rise and aren’t expected to slow down any time soon. This is good news for the province's finance, insurance, and real estate industry in the next few years.

B.C’.s tourism sector is expected to benefit from the low loonie, which in turn will support growth in the accommodation and food services industries.

Employment is expected to grow 2.2 per cent in 2016, up from 1.3 per cent last year. Accordingly, the unemployment rate will dip below 6 per cent in 2017.