Calgary 
Alberta remains the most economically free province in Canada, according to the Economic Freedom of North America 2024 report released by the Fraser Institute.
Credit: Fraser Institute
Among 93 jurisdictions in Canada, the United States, and Mexico, Alberta ranked 12th overall, tied with U.S. states Tennessee, South Dakota, Colorado, and Texas. This marks a significant improvement from last year’s position at 41st.
The report measures economic freedom based on factors like government spending, taxation, regulations, and labour market restrictions, using data from 2022. Alberta’s high ranking reflects its relatively lower taxes, less burdensome regulations, and more flexible labour markets than other Canadian provinces.
British Columbia is the next-highest Canadian province at 43rd, tied with several U.S. states, including Massachusetts and Minnesota.
Ontario ranks 47th, followed by Saskatchewan (50th), Manitoba (53rd), and Quebec (54th).
The Atlantic provinces — New Brunswick (57th), Prince Edward Island (58th), Nova Scotia (59th) and Newfoundland and Labrador (60th)— occupy some of the lowest spots among all North American jurisdictions.
Matthew Mitchell, Fraser Institute senior fellow and co-author of the report, noted that higher taxes and increased government spending continue to suppress economic freedom across much of Canada. “These factors make it harder for individuals and businesses to prosper,” he stated.
New Hampshire retained its position as the most economically free jurisdiction in North America, with Idaho, Oklahoma, South Carolina, Florida, and Indiana following close behind. In contrast, the least economically free jurisdictions are Mexican states, with Ciudad de México ranked last.
The report emphasizes the connection between economic freedom and prosperity. Over the past decade, inflation-adjusted income in the freest regions grew by 29%, while it declined by 13% in the least-free areas. Additionally, from 2013 to 2022, the population in the freest U.S. states grew ten times faster than in the least-free ones, and employment rose three times faster.
The Fraser Institute’s annual study is an extension of its Economic Freedom of the World index, which has been developed over more than 25 years by over 60 scholars, including three Nobel laureates.
