Economic Impact of Visitors in Toronto

The 26.5 million travelers visiting Toronto each year dramatically impact our community, spending over $8 billion and driving more than $12 billion in overall economic activity.

Toronto’s visitors fuel what’s called the visitor economy –a term much broader than tourism. And the visitor economy matters. When more visitors come to Toronto, visitor spending increases –fueling local businesses and the entire supply chain affected by the goods and services they provide. It creates jobs, generates tax revenue and drives growth in the overall economy for the city, the region and the province.

The study, Economic Impact of Visitors in Toronto, shows both the immediate effect of direct visitor spending and the continued impact of the visit as this new money continues to circulate throughout the city and regional economy.

“There is a straight line between visitor arrivals and economic growth, and this study reveals just how thick that line is, The impact of visitors while they are here is clear as they spend on accommodations, dining and experiences. And their impact on our community doesn’t stop when they get on a plane to go home. They have brought new money into our economy that continues to support businesses and tens of thousands of jobs all throughout our city and region.”

 

Andrew Weir, President and CEO of Destination Toronto