Toronto’s success is due in large part to the strength, resiliency and continued growth of its financial industry which serves as the economic anchor for our excellent talent base, enviable quality of life and highly competitive business environment.
Janet Ecker, President & CEO, Toronto Financial Services Alliance
Toronto is Canada’s business and financial capital, a growing financial hub in North America, and a top ten global financial centre. The Toronto region’s GDP accounts for 18 per cent of Canada’s GDP and Toronto’s economy grew by 2.4 per cent in 2014. It is home to Canada’s five major banks, the vast majority of foreign banks operating in Canada, and the Toronto Stock Exchange (TSX) – the world’s principal exchange for mining, oil and gas and a leader in cleantech listings.
Toronto is competitive in almost every other major business sector from technology and life sciences to green energy; from fashion and design to food and beverage; from film and television production to music and digital media. Toronto’s rich industrial diversity drives growth, innovation and cross-sectoral synergies and knowledge spillovers have spawned new leading-edge hybrid sectors including med-tech, green-tech and food-tech.