Toronto a world class city.

The world is taking notice of our gorgeous city that more than 2.9 million people call home.

In a recent ranking of the world’s best cities by Resonance Consultancy; Toronto was honourably noted as ranking the 24th best city in the world!

Canada’s largest city is ready for big things.  Thanks to not only it’s diversity and education, but also economic growth, global investment and ever increasing immigration.

Immigration

Canada welcomes immigrants from all countries, in particular, skilled immigrants, to help fuel to our economic growth.  Of those who immigrate to Canada, most set their sights on Toronto, a world class city.

Overall, Toronto has the largest proportion of immigrants in Canada. In 2021, close to half (46.6%) of the population living in the Toronto CMA were immigrants.

Last year Canada welcomed the most immigrants that have ever in a single year.  Over 405,000 newcomers now call Canada home.  Recent Canadian immigration plans are increasing to include 465,000 permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025.

It was only 2 short years ago that, Toronto a world class city, was ranked the fastest growing metropolitan city in North America by a Ryerson University study.  The trend continues with a current University of Toronto study predicting that Toronto’s population will trail New York & Mexico City in less than 50 years.

It’s no wonder we attract global investors in droves.

Global Investment

Toronto currently ranks as 7th for the number of Global 500 head offices that are located here.

By the looks of it, that’s not changing any time soon.  A recent ranking of Cities of the Future 2021/2022 by FDI Intelligence awarded Toronto 2nd place status as a magnet for foreign investors.

Toronto trails only New York across the region for Economic Potential and Business Friendliness. Our city also made it into the top 10 for Human Capital and Lifestyle!  This factors in how many universities we have, skill sets of the graduates and how easy it is to find a skilled employee. It’s rank was 7th in Connectivity.  Factors include things like; information and communications technology, as well as transport infrastructure.

“We have a longstanding reputation as being a leader in a variety of sectors including technology and innovation, finance and healthcare, and we continue to invest in the infrastructure that all successful cities need to update and expand including housing and transit — all of which have created an environment that people and businesses want to come and experience.” – John Tory, Mayor of Toronto

Economic Growth

Toronto is Canada’s business and financial capital, a growing financial hub in North America, and a top ten global financial centre.

Our city’s GDP growth is significantly outpacing the national average. Toronto grew by an average of 2.4% annually since 2009 compared to a national rate of 1.8%. In 2017, the Toronto region’s GDP grew by approximately 3.3 %.  A pandemic may have thrown us a giant wave, but we’re still on the up and up.

“Toronto’s success is due in large part to the strength and significant growth of its financial industry. Toronto is the second largest financial centre in North America, which serves as an engine for the economic growth of the city and an anchor for our excellent talent base, enviable quality of life and highly competitive business environment.” – Jennifer Reynolds, President and CEO Toronto Finance International

Are you surprised? We’re certainly not!

Toronto is an innovator, a growth magnet, a well educated city with diversity as it’s back bone.  From Tech to Life Sciences to Green Energy; from Design to Food & Beverage; from Digital Media to Film to Music, Toronto a world class city is competitive in almost every major business sector.

With the rise of interest rates and the economic climate being as stormy as it is, we remain confident that Toronto will ride the waves of financial uncertainty and end up not only safe, but stronger, on shore.

Want to chat Toronto real estate?

Say hello @aboderealty and let’s set up a time!