Located off of the picturesque Lake Ontario and the most populous area in Canada, Toronto is thriving in terms of tourism and fast becoming a major global business city. It is renowned for its world-famous technology and commercial aircraft manufacturing as well as boasting a variety of manufacturing activities and one of the world’s best shopping experiences.
Toronto is home to the world’s most diverse urban populations and the CN Towers, the tallest structure in the west. It regularly tops polls, charts and indexes in terms of innovation and quality of life. It’s also home to the massive PATH underground network. Consisting of 30 km of walkways, 1,200+ shops and links to major attractions, PATH connects the city in a way quite unlike any other.
Without a shadow of a doubt though, Toronto’s trump card when it comes to attracting business is its booming financial services sector. An oasis of shimmering skyscrapers, the bustling Financial District is the central business area of Downtown Toronto and is known for Bay Street’s high-rises.
The Financial District is home to banking companies, corporate headquarters, high-powered legal and accounting firms, insurance companies and stockbrokers. The presence of so many decision-makers has also attracted advertising agencies and marketing companies. Five of Canada’s six largest banks are headquartered nearby the stock exchange, as are 75% of Canada’s foreign banks, and 65% of the country’s pension fund companies.
Notable buildings in the Financial District include First Canadian Place, which with 72 floors and standing 298 metres high has been the tallest building in Canada since 1976; The Adelaide Toronto (formerly known as Trump International Hotel & Tower Toronto); and Scotia Plaza among many others.
With 2.8 million residents, Toronto is the 4th largest city in North America and is just a 90-minute flight away from more than 60% of the population of the United States. The City of Toronto’s economy comprises 11% of Canada’s GDP, with Toronto’s GDP topping $334 billion in 2019.
Toronto also boasts an impressive range of post-secondary educational facilities. Its three universities and five colleges offer training in virtually every discipline and skill. Toronto leads the country in the number of post-secondary schools and graduates with more than 15,000 medical/ biotech researchers, two top-ranked MBA schools as well as excellent programmes in engineering, computer sciences and multi-media.
Forbes also ranked Canada’ Best for business’ among G20 countries, and Toronto itself is one of the best ‘future-ready’ cities, making it an excellent place for innovative companies and start-ups.
