ECONOMIC HEALTH

Toronto’s economy continues to grow, though slowly:

> Toronto’s GDP grew by 3.12% between 2013 and 2014.

> 5,030 business establishments were new or new to Toronto in 2014.

> There were 21% fewer business bankruptcies in the Region last year (368 vs. 466 in 2013).

Construction activity continues to be strong:

> Toronto has the most high- and mid-rise buildings under construction of any North American city, and is 2nd only to New York City for major buildings under construction.

The Region smashed 2 tourism records in 2014:

> We recorded the highest-ever number of overnight visitors (14.3 million, including the highest-ever number of overseas visitors) and hotel room nights sold.

> Spending by overnight and same-day trip visitors added $6.9 billion to the economy.

> Toronto is the most-visited Canadian city by other Canadians. In 2014, 10.5 million overnight Canadian guests generated $2.44 billion.