Metro Toronto Convention Centre's Annual Economic Contribution Tops $500 Million, Upcoming 2024 Citywide Conventions Announced

TORONTO, May 16, 2024 /CNW/ - The Metro Toronto Convention Centre (MTCC) announced today that it generated over $500 million in economic impact for Toronto and the Province of Ontario during its 2023/24 fiscal year, marking a return to pre-pandemic levels of contribution.

As the MTCC celebrates its 40th anniversary in 2024, it continues to be a key supporter for Ontario's economy and local businesses. Since first opening its doors 40 years ago in 1984, the Centre has contributed an estimated $9.2 billion in economic impact, more than any other convention centre in Canadian history.

Significant achievements and highlights from fiscal year 2023/24:

• Generated over $500 million in economic impact. Economic impact is created when the attendees at a conference, trade, and public show from outside Toronto spend on services within the city, such as dining, accommodations, shopping, and transportation. This calculation is based on events hosted at the MTCC from April 2023 to March 2024.
• Welcomed over 1 million attendees.
• Hosted a record-breaking 23 citywide conventions, the most ever in one year.
• Sustained an estimated 5,767 jobs in the community.
• Generated $129 million in federal, provincial, and municipal taxes.
• Secured 12 citywide conventions for Toronto in future years.
• Achieved a 95% overall customer satisfaction score.

The Centre prides itself on benefiting the region in a variety of meaningful ways. Beyond hosting successful events, the MTCC is dedicated to making a positive impact in Toronto through community giving, using its buying power to support local businesses, and fostering an atmosphere where everyone feels welcome, respected, and celebrated.

Community impact results for fiscal year 2023/24:

• Donated 11,439 kg of food to local organizations and food banks, representing 25,420 meals.
• Contributed 1,445 kg of material, such as lanyards, tables, lamps, and bins, to local charities.
• 100% of the wine and craft beer offered is sourced locally.
• 65% of all meat, fish and dairy is purchased locally to help sustain farmland and support farmers.

"The Metro Toronto Convention Centre is a key part of Ontario's tourism economy in one of the province's tourism gateway cities. For 40 years, it has hosted world-class events and brought countless visitors to our province," said Neil Lumsden, Minister of Tourism, Culture and Sport. "I congratulate the MTCC for all its accomplishments. Our government is proud to support its ongoing commitment to sustainable economic growth, its continued impact on the tourism sector and its efforts in driving global interest in Toronto and our province."

"Our continued success despite industry challenges is a testament to our facility's resilience and dedication to Toronto and Ontario," said Ron Pellerine, Interim President and CEO at the Metro Toronto Convention Centre. "We are proud to announce that our annual economic impact contribution has exceeded $500 million, and we look forward to making a meaningful difference in our region for many more years to come. We wish to thank our employees, customers, industry, and suppliers for their support and partnership."

In fiscal year 2024/25, the MTCC will host 20 citywide conventions that will gather over 100,000 delegates from around the world in Toronto to share ideas, advance their field, and further spotlight Toronto and its strong key sectors. Citywide conventions play an important role in elevating Toronto's global influence across multiple economic sectors, including life sciences, technology, advanced manufacturing, and finance.

Here are a few citywide conventions still set to take place in the remainder of 2024. Visit www.mtccc.com/events for a full list of events:

• American Academy of Pediatric Dentistry Annual Conference – May 23-26, 2024
• 2024 Canadian Ophthalmological Society Annual Meeting and Exhibition – May 30-June 2, 2024
• 2024 Society of Nuclear Medicine & Molecular Imaging Annual Meeting – June 8-11, 2024
• 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 for Responsible Investment – PRI in Person 2024 – October 8-10, 2024
• AdvaMed- Advanced Medical Technology Association MedTech Conference – October 15-17, 2024

About the Metro Toronto Convention Centre:

The Metro Toronto Convention Centre is Canada's number one convention and trade show facility. Over the past 40 years, the Centre has hosted over 22,000 events and has added over $9.2 billion in direct spending economic impact to the community. For further information, please visit www.mtccc.com.

SOURCE Metro Toronto Convention Centre

Media contact: Melanie Wade, Social Media and Communications Specialist [email protected]