Key industry sector: Tourism
Welcoming over 25 million visitors annually, Toronto is the focal point for a country that ranks among the world's top 10 tourist destinations. This bold, dynamic city offers superb attractions and events backed by the best convention and sports facilities in Canada.
Key facts
- Toronto ranks in the top 10 of the world’s top tourist destinations, with over 25 million people visiting (both overnight and same day visitors)
- 9.9 million visitors (39% of total) stayed overnight but account for 77% of all spending.
- 6.57 million come from Canada
- 1.98 million come from the USA
- 1.32 million come from Overseas
- Tourism in Toronto is a key export industry that plays an important role in the city’s economy; generating employment, foreign exchange earnings, investment and regional development.
- Total spending by visitors is $4.35 billion
- Visitor spending in Toronto in 2010 generated $1.08 billion in total taxes annually including:
- $560 million in federal taxes
- $514 million in provincial taxes
- $4.3 million in municipal taxes
- Toronto has over 24,000 tourism related businesses employing 224,000 people
(Source: Tourism Toronto 2010)
Assets
- Cultural, entertainment, performing arts, festival and events, sports events, international cuisine, parks and recreation, first-rate accommodations, and shopping, including:
- 8 professional sports teams, 28 museums, 19 public galleries, a world-class zoo, a variety of 40 different tours and excursions, a huge performing arts community including theatrical productions, the opera, the symphony and the ballet and over 7,000 restaurants
- Large-scale special events can be found every weekend of the year with a number of signature events in the city including, Scotiabank Nuit Blanche, Luminato, Gay Pride Parade , Scotiabank Caribbean Carnival Toronto, Canadian National Exhibition and the Toronto International Film Festival
- Shopping, the nightclub scene, diverse neighbourhoods and choice of dining out the city allowing choice for all
- Three convention centres in the city offer a large amount of choice to the meetings and conventions market
- 58 multifunctional event venues, 34 meeting facilities and over 100 professional event and meeting planners in the city assist in making Toronto the choice for meetings and conventions
- The largest convention exhibit space with over 1 million in square footage exists at the Direct Energy Centre – it ranks third overall in size in North America
- Heralded as one of the most diverse and multi-cultural populations in the world, Toronto is also positioned as the safest large metropolitan area in North America
- Toronto has the second highest percentage of foreign born residents (over 50%) with Miami having the highest percentage (just over 60%)
- Over 100 languages and dialects are spoken in Toronto, with 79 multi-lingual publications published in Toronto
- The city has a wide range of accommodation, including:
- Over 35,000 hotel rooms
- Four new luxury hotels which will enter the market in the coming years and provide visitors with greater variety
- Transportation
- Two international airports provide excellent access to other major North American metropolitan areas within a 500 mile (800 km) radius (1 days drive or a 1-hour flight) of 135 million people, with direct air service between major cities in Canada and the US has nearly doubled in the past 6 years
- Billy Bishop Toronto City Airport is right in the downtown with:
- Porter Airlines which flies to 11 domestic and 4 international destinations
- Air Canada which offers 15 direct flights between Toronto and Montreal daily
- Toronto's cruise ship terminal has significant potential for increased visitation via cruise ship passengers
Future growth
- Ripley's Aquarium of Canada, scheduled to open in the summer 2013 will be one of the largest aquariums in North America and will feature over 450 species and be home to more than 13,500 inhabitants
- Woodbine Live! will offer an estimated 1.5 million square feet of retail, restaurant, clubs and entertainment venues and will include a 450-room hotel with meeting facilities
Major players
- Tourism Toronto
- Tourism Toronto is the official destination-marketing organization for Toronto’s tourism industry, focusing on promoting and selling the greater Toronto region as a remarkable destination for tourists, convention delegates and business travelers.
- Officially a not-for-profit agency; Tourism Toronto has over 1,000 members and is a partnership of public and private sectors.
- Headquarters for Four Seasons Hotels and Resorts (founded in Toronto by Isadore Sharp)