Foreign investors fuel the housing market.  They raise property values which raise property taxes for municipalities. Higher values benefit the majority of society because 75% of the population own their primary residence.  Higher values lead to more local spending on local goods and services.  More consumption and home equity can be used for more domestic investment in local businesses.  Some foreign investors generate income tax on Canadian income as well. 

And investment in the local property market fuels employment in construction, marketing and advertising, legal, engineering, finance, brokerage, furniture, insurance, etc. 

And foreign investors send their children to local private schools that pay teachers salaries and of course other operating expenses. 

Foreign investors fuel demand for hotel rooms, car rentals and purchases, etc. 

Remove foreign investment from Vancouver and you'll probably find yourself out of a job.