Tourism brought CAD$8.8 billion to Toronto’s economy last year, the highest in the city’s history.
According to Destination Toronto, the nine million reported overnight visitors were the most since the pandemic, though 600,000 fewer than in 2019.
“Toronto’s visitor economy is proving once again to be an engine for the city, drawing almost 9 billion dollars of new money into our economy from across Canada, across the border and around the world,” said Andrew Weir, President and CEO of Destination Toronto.
In 2024, Toronto hosted 2.7 million international visitors, a 7% increase from the previous year, primarily from the U.S., U.K., and Germany. International travellers made up 30% of total visitors and 38% of visitor spending.
“Toronto is the most diverse city in the world—with hundreds of vibrant, thriving neighbourhoods. In 2024, we welcomed Taylor Swift, the NHL All-Star Game and of course every year, TIFF, the largest film festival in North America. With hundreds of conferences, events, festivals and visitors bringing almost $9 billion, tourism is enormously valuable for our city,” said Mayor Olivia Chow.
Visitor spending continues to recirculate throughout Toronto’s economy, producing an overall economic impact of $13 billion in 2024.
“The tax revenue generated by visitors last year was greater than $2 billion. In fact, without tourism, every family in Toronto would have had to pay $1,850 more just to maintain the same levels of government services across all three levels of government,” said Weir.
Outlook
Toronto's visitor economy in 2025 is optimistic, with multiple hotel openings, including the TOOR Hotel Toronto, Union Hotel Toronto, NOBU Hotel Toronto, and Le Meridien Pinnacle Toronto Hotel.
Hilton Toronto, Chelsea Hotel Toronto, and TIFF are celebrating 50 years.
After a decades-long absence, Virgin Atlantic resumes its Toronto-London route on 30MAR2025.
U.S. pre-clearance is coming to Billy Bishop City Airport (YTZ) to allow U.S.-bound travellers to clear U.S. Customs, Immigration, and Agriculture inspection before takeoff.
