The City of Toronto's population is 2.8 million people, with 6 million people in the Toronto region. There are over 180 languages and dialects spoken and 50% of the population is foreign born. The work force is highly educated, with 1 in 3 members of the labour force holding a bachelors degree or higher. The City of Toronto is uniquely suited to the global nature of business today.
Toronto's business environment has unique market opportunities, competitive cost advantages, stable business markets and an unmatched quality of life.
Toronto's business environment is comprised of 3 major sectors, finance, life sciences, and information and communications technology (ICT).
- Toronto's financial services sector is the largest in Canada, and the fastest growing in North America. The sector employs over 222,400 people and contributes 14% directly and an additional 7.9% indirectly to the Toronto region's GDP (City of Toronto, 2012).
- The ICT sector in Toronto is the largest in Canada. In 2012, more than 175,000 people were employed at more than 11,500 high-tech companies generating approximate annual revenues of $52 billion (City of Toronto, 2012).
- Toronto is home to North America's largest combined life sciences sector and is ranked as one of the top 10 bio-medical sectors in the world. The sector employs more than 160,000 people in over 800 companies (City of Toronto, 2012).
Additional sectors that contribute to Toronto's GDP include business services, creative industries, food and beverage, and the green energy sector.
According to Aon Consultancy 2012 People Risk Ratings, Toronto offers the 2nd lowest risk in the world to recruit, employ and relocate.
Toronto's innovative, sustainable and socially responsible businesses make Toronto a business leader.
Toronto is Canada's financial and business capital. Rated as one of the top 10 global cities with economic clout (Cities of Opportunities Report, PwC, 2011), 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.