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Toronto is Canada's financial and business capital. Rated as one of the top 5 global cities with economic clout (Cities of Opportunities Report, PwC, 2010), and one of the top 5 cities for economic potential and infrastructure (North American Cities of the Future, FDI), Toronto is a dynamic, diverse, rising city that provides the ideal business environment for companies looking for a competitive edge.

  • With 2.8 million residents, Toronto is the 4th largest city in North America. One-quarter of Canada’s population is located within 160 km (100 mi.) of the city and more than 60% of the population of the USA is within a 90-minute flight.
  • Toronto is one of the most liveable and competitive cities in the world as demonstrated by various international rankings and reports.
  • Canadian Banks have been ranked the world's soundest for four straight years by the World Economic Forum.
  • The City of Toronto's economy comprises 11% of Canada’s GDP, with Toronto's GDP topping $144 billion in 2011. Toronto-based businesses export over $70 billion in goods and services to every corner of the globe with retail sales of $62 billion annually.
  • On an international scale, Canada has the lowest overall business costs in the G7 as reported in KPMG’s Competitive Alternatives 2010. Overall average business costs in Toronto are lower than all 22 large US cities in the study.
  • Toronto's more than 84,500 businesses choose from a large, highly skilled, multilingual workforce of 1.4 million people – one sixth of the country's workforce. Sixty-four per cent of Toronto residents between the ages of 25 and 64 have a post-secondary education.
  • An impressive range of post-secondary educational facilities including four universities and four colleges offer training in virtually every discipline and skill. Toronto leads the country in numberof post-secondary schools and graduates with more than 15,000 medical/biotech researchers, two top-ranked MBA schools as well as excellent programs in engineering, computer sciences and multi-media.
  • Toronto's economy has not one but 11 key sectors which work together to keep the city relatively resilient to economic downturns. Toronto's international competitiveness and strength in each of these areas combine to generate synergies and stimulate growth. 
  • Toronto's ICT sector is comprised of 11,522 companies employing over 161,000 workers and generating $52.2 billion in annual revenues.
  • The financial services sector is a key driver of our local, provincial and national economy, employing over 223,000 individuals. Toronto is both the financial services capital of Canada and the fastest growing financial centre in North America. As such, Toronto houses the leaders in Canada's financial services industry including:
    • five of Canada's largest domestic banks, 55 foreign bank subsidiaries and branches and 119 securities firms;
    • headquarters for six of Canada's top insurers that manage more than 90 per cent of the industry's assets, 61 mutual funds companies, 58 pension fund managers, and five of Canada's largest pension plans with combined assets in excess of $300 billion; and,
    • the TMX Group, the third-largest stock exchange group in North America and the eighth largest in the world based on market capitalization.
  • Toronto's critical mass in financial activity means that this is where key corporate financial decisions are made. Toronto business executives can discuss their financial needs with the key decision-makers just by walking up the street.
  • Toronto's public transit system is the second largest in North America and has the highest per capita ridership rate on the continent. More than 2,700 subway vehicles, buses and streetcars make it easy for more than 1.5 million business riders to travel throughout the city daily.
  • Toronto continues to lead all North American municipalities in new large scale development with 185 high-rise buildings under construction.
  • For information on Toronto's global investment opportunities, contact Invest Toronto.

 

 
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