The Conference Board of Canada gave their 2017 Western Business Outlook this morning in Red Deer, and for the first time in what seems like forever the news wasn't doom and gloom.

In fact both the board and ATB's Chief Economist Todd Hirsch who was guest speaking, believe Alberta's growth domestic product will grow by a modest 2%.

Hirsch says when people hear growth they immediately think of the booming Alberta from a few years ago, but that won't be the case.

"Some people might still need to ratchet down some expectations. We're not going back to the go-go days of 2013-2014. That will take some time to build back that momentum, but nevertheless, we do end 2 years of recession in 2017 with some growth."

As the oil and gas industry continues to rebound, tourism will be one of the most prosperous sectors, all thanks to a cheaper Canadian dollar drawing in American tourists, and China's growing love of our Country.

In fact, Hirsch says 2017 is on track to having a 3rd consecutive record breaking year in the tourism industry though.

"A lot of American tourists, that's being helped out by the pretty low Canadian dollar. I think a lot of Canadians will take advantage of that low dollar and stay closer to home this summer. It's Canada's 150th Birthday, with lots of parties and events planned. We've got much better transportation linkages with Asia, particularly China."

Hirsch adds depending on the price of oil over the next 3-5 years, Alberta could completely transform and become less dependent on oil and gas.

"Change in the long run is always good. I think there will be an evolution of Alberta's economy if oil prices stay about where they're at. We'll start to see new industries coming in. We'll start to see even in the agri-food or tourism, building on industries that we already do well here. I think that's what Alberta's economy could look like in 5 years."

Hirsch says he's expecting oil to stay in the 50 to 60 dollar range in 2017, but many companies he's spoke with are ramping up production in Western Alberta.