Toronto Lost $8.35B of Tourism Business in First Year of the Pandemic

According to an analysis done by Destination Toronto, the COVID-19 pandemic has cost the city’s economy $8.35 billion due to a drop in tourism and hospitality spending. Scott Beck, president and CEO of Destination Toronto, said one of the sectors devastated by the COVID-19 pandemic was the meetings and events industry. Beck said Destination Toronto tracked 463 conferences and events that were either cancelled or postponed since the start of the pandemic costing $833 million in losses in that sector alone.

You will be redirected in 2 seconds.