Economic role of toronto
Toronto- the mega-city is the backbone for Canada’s economy and also plays a major part in the world economy too. Toronto is what you can call the cosmopolitan center for Canada. It holds within businesses, trades, markets and what not. Careers here sky rocket and opportunities are there to grab. It is difficult to keep in pace with the fast-tracked world of Toronto and keep in track with the latest trends and strategies being followed, but then that’s what a business capital holds within.
Since the very beginning, Toronto has been a route for trade. People, especially the French men used the ‘Toronto passage’ as means of traveling and connecting the European world with the American. Trade started during this time and businessmen started looking for opportunities to make money. After this came the tsunami of immigrants. People from all over the world settled here in Toronto and set up their own work. This led to a market that wasn’t only well stocked but also diverse than any other market in the world.
As business started blooming for people, along came the development. Transport systems were established, hotels, buildings, offices, recreational buildings, schools, and everything one can think of in a modern business world, you can find in Toronto.
Today Toronto has many industries to support its economy and give a major boost to that of the worlds too. Its Finance sector is probably the most earning sector. The Toronto Stock Exchange is the third largest in America making Toronto officially one of the top three business capital alongside with New York and Chicago. In 2008, Forbes Magazine named Toronto the 10th most economically powerful city in the world, ahead of Madrid, Philadelphia and Mexico City. This is truly the success story of Toronto’s economy in one sentence.
Another of Toronto’s flourishing industry is the media sector. A lot of Hollywood films though low budget can be seen filmed in Toronto or other parts of Canada giving the impression of some American city like New York or Chicago. This promotes the city and its businesses itself. Recently, work was started on the construction of a state of the art studio named Filmport. The studio would be one of the largest ever built with modern equipment and tools for film making. Then there is also the International Toronto Film Festival that is held every year and is growing in size. People and actors all over the world visit the city during this time. Imagine the kind of business this all this brings along with itself.
Toronto is home to a sprawling and diverse commercial infrastructure and a magnet for tourists. With so many interesting places to visit it is one of the top holiday destinations now a days. The famous parades and festivals of Toronto alongside the luxurious hotels, exotic restaurants, fabulous nightlife and extravagant shopping, the tourism industry is sky rocketing these days.
Toronto is well on its way to becoming the business capital of the world someday soon. With its healthy economy and successful trends it is hard not imagine seeing so in the near future.
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Article Source: Messaggiamo.Com
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