Canada’s Corporate Capital and Crossroads for the World

Quick Facts
Province: Ontario
Population: 5.4 million

Anyone looking for a city that combines economic muscle and unparalleled cost advantages with cosmopolitan flair will feel at home in Toronto.  Canada's largest city and leading business address, Toronto has more nationally and internationally top-ranked companies than any other Canadian city. Toronto is also home to one of the world’s most diverse and multicultural populations. The city’s highly skilled, educated and multi-lingual citizens speak over 100 languages and dialects. This cultural wealth is reflected in the city’s vibrant artistic community, which boasts 125 museums and public archives, over 50 ballet and dance companies, six opera companies and two symphony orchestras. And the quality of life is hard to beat, with Toronto ranked as the safest large metropolitan area in North America.

Key Advantages

  • 5th-largest city in North America after Mexico City, New York City, Los Angeles, and Chicago
  • Workforce of 1.4 million people with strong employment in both manufacturing and service industries
  • Contributes 11% of Canada’s GDP — $127 billion in 2005
  • ISDN and ATM technology, fibre ring technology, dynamic routing, full common channel signaling capability and high capacity Internet access
  • Of the region’s 139,500 businesses, over 76,000 export more than $70 billion in goods and services to every corner of the globe with retail sales of $47 billion annually
  • 180 million customers live and work within a day’s drive of Toronto, including 125 million Americans or roughly 40% of Americans
  • Three universities — Toronto, York and Ryerson — and five technical colleges; the University of Toronto is rated in the top 10 on the continent
  • Pearson International Airport is within easy reach of the city’s central business district and provides flights to over 300 destinations in 54 countries through 64 carriers
  • The World’s Tallest Building, the CN Tower, is a major telecommunications hub

Sector Strengths

  • 3rd largest financial centre in North America — Canada's 5 largest banks, 50 foreign bank subsidiaries and branches, and 112 securities firms — employing 205,000
  • Headquarters for 6 of Canada's top insurers managing over 90% of the industry's assets:  61 mutual funds companies, 58 pension fund managers, and 5 Canadian pension plans
  • Home to 9 of Canada’s 10 largest law practices, 9 of the top 10 accounting firms and all 10 top human resources and benefits firms
  • Largest concentration of private ICT facilities in Canada and 3rd largest in North America, behind San Francisco and New York — annual sales for the ICT cluster amount to over $32.5 billion, with annual exports over $6.2 billion
  • The TSX Group — 3rd largest stock exchange in North America and 7th largest in the world based on market capitalization — is the world leader in mining sector listings
  • Considered "Hollywood North" by the film industry, Toronto ranks 3rd in North American TV and film production
  • Canada's top tourist destination attracting 18 million visitors annually

Key Clusters