RBC CEO Says US Visa Fee Gives Canada a Chance to Grab Tech Talent

In a recent statement, the CEO of Royal Bank of Canada, Dave McKay, has suggested that the new $100,000 fee imposed by the White House on H-1B visas in the United States presents a "material opportunity" for Canada to attract more skilled tech workers. The H-1B visa program, which allows U.S. companies to temporarily employ foreign workers in specialized occupations, has been a subject of ongoing debate and policy changes. The increased fee is seen as a potential deterrent for companies looking to hire foreign talent, and McKay believes this could drive more of that talent towards Canada. McKay highlighted Canada's competitive advantages, including a more welcoming immigration policy and a growing tech sector, as factors that could make the country an attractive destination for skilled tech professionals who may be affected by the higher H-1B visa fees in the U.S. This could provide a boost to Canada's tech industry and further cement its position as a hub for innovation and talent.