What are the main parts of Victoria’s economy?

The economy of Victoria, British Columbia, is primarily defined by its role as a service-oriented community. The main components of its economy include:12

• Government and Administration: As the capital of British Columbia, the city serves as a central hub for provincial government operations.2
• Defense: The regional economy is significantly supported by the presence of the Canadian Forces Base Esquimalt, which serves as a major defense installation.2
• Tourism and Services: Tourism is an increasingly significant sector, supported by the city's historic charm and attractions. This is complemented by services catering to the large population of retirees who relocate to the region.12
• Industry and Resources: While the city has transitioned toward a service-based economy, it maintains employment in agriculture, forestry, and fishing. Related industrial activities, such as shipbuilding and repair, food processing, and various manufacturing sectors, also contribute to the local economy.2

Transportation remains a vital factor in Victoria's economic well-being, facilitating the movement of visitors and goods through its international airport, floatplane access to the Inner Harbour, and ferry connections to the mainland and Washington state.2