High-Value Visitors Spark High Hopes for Toronto Tourism Investment
The City of Toronto is revitalizing its tourism offerings to appeal to the high-value consumer — the visitor who is looking for quality experiences and is willing to spend more to meet those expectations.
With global tourism on the rise, the timing couldn’t be better for investors who want to get in on the ground floor of Toronto’s tourism makeover. The number of international travellers is expected to double to 1.6 billion by the year 2020. Key markets such as Dubai and Delhi now offer direct flights to Toronto, opening the way for an influx of upscale business and leisure travellers.
Toronto is looking to expand incentives for investors who make substantial new investments in the city. Among the ideas being considered are a 10-year property tax break for businesses that move to Toronto, or expand existing operations within city limits.
"We have created new tools which will allow us to compete on an international stage" says Toronto Mayor David Miller. "The financial tools will create opportunities, generate jobs and enhance our prosperity. Toronto will welcome new companies and help them to grow and invest in our City to the benefit of all."
Great entertainment venues, luxury accommodations and landmark architecture will strengthen Toronto’s cachet as a top destination for the high-value consumer. As Toronto comes into its own as a city of the world, new worlds of opportunity are emerging for tourism investment.
For more information on tourism investment opportunities throughout Ontario, please visit: www.investinontario.com/tourism/regionalinvest.asp.