Home » MICE NEWS » Metro Toronto Convention Centre Surpasses 0 Million in Annual Economic Contributions Metro Toronto Convention Centre Surpasses $500 Million in Annual Economic Contributions
Sunday, May 26, 2024
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The Metro Toronto Convention Centre (MTCC) revealed that it has contributed over $500 million to the economic prosperity of Toronto and Ontario for the fiscal year 2023/24, reaching pre-pandemic performance levels.
In its 40th year of operation, the MTCC stands as a significant pillar of support for the provincial economy and local enterprises. Since its inception in 1984, the Centre has injected an estimated $9.2 billion into the economy, a record for any Canadian convention center.
Key achievements from the fiscal year 2023/24 include:
- Creation of over $500 million in economic benefits. This impact results from spending by attendees from outside Toronto on local services such as dining, accommodations, shopping, and transportation during events held from April 2023 to March 2024.
- Hosting of more than 1 million visitors.
- Organization of a historic 23 citywide conventions, the highest in a single year.
- Support of approximately 5,767 local jobs.
- Generation of $129 million in taxes across federal, provincial, and municipal levels.
- Future bookings of 12 citywide conventions.
- Achieving a 95% customer satisfaction rate.
The Centre is dedicated to enriching the region through its events and various community contributions, emphasizing local business support and fostering an inclusive environment.
Community contributions for fiscal year 2023/24:
- Donation of 11,439 kg of food, equivalent to 25,420 meals, to local groups and food banks.
- Donation of 1,445 kg of items like lanyards and furniture to charities.
- Local sourcing of all wine and craft beers.
- Local procurement of 65% of all meat, fish, and dairy products to support local agriculture and farmers.
Neil Lumsden, Minister of Tourism, Culture and Sport, highlighted the MTCC’s critical role in Ontario’s tourism and its enduring legacy in hosting global-level events that draw numerous visitors to the province.
Ron Pellerine, Interim President and CEO of the MTCC, expressed pride in the facility’s sustained success and resilience, thanking everyone involved for their continued support and collaboration.
Looking ahead to fiscal year 2024/25, the MTCC is set to host 20 citywide conventions, expected to attract over 100,000 delegates globally to Toronto, further boosting its profile across vital economic sectors like life sciences, technology, manufacturing, and finance.
Upcoming citywide conventions include:
- American Academy of Pediatric Dentistry Annual Conference – May 23-26, 2024
- Canadian Ophthalmological Society Annual Meeting and Exhibition – May 30-June 2, 2024
- Society of Nuclear Medicine & Molecular Imaging Annual Meeting – June 8-11, 2024
- North American Bridge Championships – July 18-28, 2024
- IWA World Water Congress & Exhibition 2024 – August 11-15, 2024
- American Society for Bone & Mineral Research Annual Meeting 2024 – September 27-30, 2024
- Principles in Responsible Investment – PRI in Person 2024 – October 8-10, 2024
- AdvaMed- Advanced Medical Technology Association MedTech Conference – October 15-17, 2024
