Canada’s major providers, BCE Inc., Rogers Communications Inc., and Telus Corp., are experiencing their lowest mobile subscriber growth in four years, with only 54,000 new additions in Q1 2025. This downturn is directly attributed to recent federal government restrictions on immigration and international student admissions, implemented to address housing and healthcare system pressures. The impact has been particularly notable for BCE, which reported its first dividend cut in 17 years and a decline in mobile subscribers, highlighting the telecommunications industry’s dependence on immigration-driven growth.