Nova Scotia's Wine Industry Poised for Growth, Report Indicates
N.S. wine industry is ready to blossom, report finds
Ctv News
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A recent study by Deloitte, commissioned by Wine Growers Canada, reveals that Nova Scotia's wine industry, currently producing nearly 2 million litres annually, has the potential for significant growth. Recommendations include reducing excise taxes and removing interprovincial trade barriers to increase market share and GDP contributions.
- 01Nova Scotia has 19 wineries producing nearly 2 million litres of wine annually.
- 02The domestic wine market contributes $10.1 billion to Canada's GDP.
- 03Increasing market share to 51% could boost GDP by over $3.5 billion annually.
- 04Recommendations include reducing excise taxes and removing interprovincial trade barriers.
- 05Investment certainty and government support are crucial for industry growth.
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Wine Growers Nova Scotia reports that the province's 19 wineries produce nearly 2 million litres of wine annually. A study by Deloitte, commissioned by Wine Growers Canada (WGC), indicates significant growth potential for the industry. Currently, Nova Scotia holds a 29% market share in domestic wine sales, far behind countries like France, which boasts an 83% market share. If Nova Scotia's market share were to increase to 51%, it could add more than $3.5 billion to Canada's GDP. Recommendations for achieving this growth include reducing excise taxes and eliminating interprovincial trade barriers. Federal Internal Trade Minister Dominic Leblanc emphasizes the need for provinces to enhance their regulations to support the wine industry. WGC President Dan Paszkowski advocates for long-term investment certainty and government commitments to foster growth in Nova Scotia as a burgeoning wine region.
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The growth of the wine industry in Nova Scotia could lead to increased job opportunities and economic benefits for local communities.
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