WELCOMING INVESTORS: - Ministry of Tourism - Ontario.ca

ONTARIO’S COMPETITIVE STRENGTHS► St. Lawrence Cruise Lines, KingstonOntario remains a destination of choice forinternational investors. Despite current challengesfaced by many Western economies, the provincecontinues to build on its competitive strengths,grow its economy and successfully attractbusinesses from around the world.Ontario’s tourism industry is a key part of theprovince’s economic success. Supported by arobust economy, proximity to a large and affluentmarket, a skilled workforce, competitive businesscosts and excellent international accessibility, theindustry has continued to attract internationalinvestment.The province’s stable, growing and diversifiedeconomy benefits from a regulatory environmentthat is transparent and balanced. Accountingfor almost 40% of Canada’s output, Ontario’seconomy exceeds that of many industrializedcountries, including Belgium, Sweden, Switzerlandand Ireland. This economic stability can beattributed in large part to Canada’s advancedbanking and financial system, which has beenrecognized by the World Economic Forum asthe world’s soundest.Ontario’s economic success is also a result ofits proximity to key markets, including the UnitedStates. There are approximately 158 millionconsumers within a day’s drive of southernOntario making the province an attractive locationfor tourism investors looking to access a largemarket. Ontario is also home to the largestconcentration of Canada’s highest income earners,allowing investors easy access to an affluentdomestic market.Ontario’s strengths include a stable political environment, an economy thathas remained relatively healthy despite the U.S. recession, a stable real estatemarket, a secure investment environment, and the presence of a relatively largeand affluent population in the GTA. 36 WELCOMING INVESTORS: A Tourism Investment Attraction Strategy for Ontario