Toronto is the fastest growing city in Canada and U.S.
TORONTO, ON., June 12, 2020, — Toronto is the fastest growing city and the Toronto CMA is the fastest growing metropolitan area in all of Canada and U.S. in terms of population growth, according to the latest research from the Centre for Urban Research and Land Development at Ryerson University.
As one of the most livable and diverse cities in the world, the city of Toronto grew by close to 46,000 people in 2019. The research also revealed that several other Canadian cities have seen significant jumps in population. Montreal is the second fastest growing city with over 30,000 while Calgary, Ottawa and Edmonton are fourth, fifth and sixth respectively.
While the City of Toronto’s population grew by 45,742 persons, New York City’s population decreased by 53,264 in the 12 months ending July 1, 2019.
New York, Baltimore, Chicago, and San Jose were the bottom four U.S. and Canadian cities with the largest declines in population. New York had the largest population decrease by far, with a decrease of 53,264 compared to Baltimore’s 8,953 (see Figure 5).
Ryerson’s research shows Toronto’s strong position before the global COVID-19 pandemic and will motivate the City to continue that success through the restart and recovery period.
“I’m incredibly proud of the growth we saw in the City of Toronto again last year, as one of the most livable and diverse cities around the world,” said Toronto Mayor John Tory. “Toronto is Canada’s economic engine – home to residents with incredible talent and innovative businesses. The steady increase in population helps fuel the economy and will be an important part of our recovery efforts as we emerge from this pandemic absolutely determined for our city to come back stronger than ever.”
Construction, a key indicator of economic vitality, is booming in Toronto. The city is also benefiting from a surge of investment in public infrastructure and transit to meet the needs of this rapidly expanding region.
Union Station, Canada’s busiest, most important multi-modal passenger transportation hub has undergone a major redevelopment. Toronto’s waterfront revitalization is the largest urban renewal project currently underway in North America. The ground-breaking Regent Park Revitalization project is transforming the former 69-acre social-housing development into a self-sufficient mixed income, multi-use community.
In the past 40 years, Toronto’s downtown population more than doubled and in excess of one-third of all jobs in the city are now within the core.
Toronto region is home to more than 6.47 million people with a diverse population where nearly 50 per cent of people are born outside of Canada. Toronto’s globally-connected residents are the driving force behind its economic prosperity and innovation. As the fourth-largest city in North America, Toronto is Canada’s business and financial capital, with the second-largest financial centre and the third-largest tech sector in North America.
For more information on Toronto’s economy, visit toronto.ca/business-economy/.
