For employers, Toronto is the world's 3rd lowest risk city for recruiting, employing and relocating employees, according to Aon Hewitt’s 2013 People Risk Ratings.
As foreign investors expand their businesses abroad, an important factor affecting their decision to locate in Toronto is the diversity of the city's population.
For businesses that are globally active, access to a labour pool that is multicultural allows them to effectively engage in international markets. In addition, the diversity of the population acts as a signal to entrepreneurs and small and medium sized business owners that global cities like Toronto are welcoming to new ideas.
Toronto's economy depends upon the quality, ingenuity and commitment of its workers. Fortunately, Toronto's 3.38 million regional labour force is one of the largest in Canada, and one of the most diverse in the world.
Toronto is the most multicultural city in Canada, if not in all of North America. 51% of Toronto's population is foreign-born, compared to 36.8% in New York City. The Toronto region is home to 37.4% of all foreign-born people in Canada. Among the many different cultures in Toronto, 51% of foreign immigrants in the city are from Asia. The top three countries of origin are China, India and the Philippines. Toronto is home to the largest Chinese (594,735) and Indian (572,250) populations in the country.
The official languages in Canada are English and French; however, there are 1.4 million people in the City of Toronto that speak a non-official language. The languages most often spoken are Mandarin, Cantonese, Tamil, Hindu, Urdu, Tagalog, Spanish, Italian and Portuguese. Each of these has a community of 50,000 people or more who are able to converse in that language (Statistics Canada, 2013).
||Thousands (except rates)
Source: StatsCan, 2014
Age pyramid of the Toronto region and Canada's population.
Summary statistics including total employment and the unemployment rate
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Study looks at the risks related to recruitment, employment and retirement. Aon survied 110 cities worldwide based on population size, population growth, the level of foreign investment and geographic spread.
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