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Greater Toronto Area
The Greater Toronto Area (GTA) is a metropolitan area in Canada. At the 2011 census, it had a population of 6,054,191, and the census metropolitan area had a population of 5,583,064. The Greater Toronto Area is defined as the central city of Toronto, and the four regional municipalities that surround it: Durham, Halton,Peel, and York. The regional span of the Greater Toronto Area is sometimes combined with the city of Hamilton, Ontario and its surrounding region, to form the Greater Toronto and Hamilton Area. The Greater Toronto Area is the northern part of the Golden Horseshoe.
Economy Of the Greater Toronto Area
The Greater Toronto Area is a commercial, distribution, financial and economic centre, being the third largest financial centre in North America. The region as a whole generates about a fifth of the GDP of Canada, and is home to 40% of Canada’s business headquarters. The economies of the municipalities in Greater Toronto themselves are largely intertwined with one another. The work force is made up of approximately 2.9 million people and more than 100,000 companies. The Greater Toronto Area currently produces nearly 20% of the entire nation’s GDP with $323 Billion, and from 1992 to 2002, experienced an average GDP growth rate of 4.0% and a job creation rate of 2.4% (compared to the national average GDP growth rate of 3% and job creation rate of 1.6%). In 2010, over 51% of the labour force in the Greater Toronto Area is employed in the service sector, with 19% in the manufacturing, 17% of the labour force employed in wholesale & retail trade, 8% of the labour force involved in transportation, communication &utilities, and 5% of the workforce is involved in construction. Despite the fact that the service industry makes up only 51% of Greater Toronto’s workforce, over 72% of the region’s GDP is generated by service industries.
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GTA Video Directory coming soon