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Canada is a prosperous and high-tech industrial country to invest, innovate and expand a business globally. It welcomes foreign business investment, offering many competitive advantages. Its competitiveness is built upon its welcoming business environment, financial stability, strong economic growth record, and unparalleled market access. It has a highly efficient labour market, ranking 7th out of 140 countries. In its annual list of “The Best Countries for Business,” Forbes has ranked Canada as 1st among the G20 countries to do business. For the eighth consecutive year, the World Economic Forum has declared Canada’s banking system as the soundest in the world.
Being the largest city in British Columbia, Vancouver has more than USD172 billion in trade with over 160 different trading economies annually. According to the 2015 Global Liveability Ranking from the Economist Intelligence Unit and based on five areas of stability, infrastructure, education, health care and environment, Vancouver is ranked the third best city in the world to live in. With its location on the Pacific Rim and at the western terminus of Canada's transcontinental highway and rail routes, Vancouver is one of the nation's largest industrial centres. Ranked 20th on the Global Financial Centres Index (GFCI20) in 2016, Vancouver is the third highest rated Canadian financial centre, behind Montreal and Toronto.
As one of the world’s best natural deep-water harbours, Vancouver is a key international hub for transportation and business, serving as an ideal location for national economic growth and international relations. Home to North America’s best airport and as Canada’s closest major port to Asia, its accessibility to the rest of the world helps drive its expansion and development. Vancouver continues to be a magnet for global talent and investment, attracting over USD379 million in venture capital every year.
Toronto is Canada’s business and financial capital, with the Toronto region accounting for 18 percent of Canada’s Gross Domestic Product (GDP). Toronto’s GDP tops USD230 billion and its businesses export over USD53 billion in goods and services annually. In 2016, The Global Financial Centres Index 20 (GFCI20) ranked Toronto as the 13th most influential financial centre in the world. The headquarters of five of the Big Six banks (National Bank of Canada, Royal Bank of Canada, The Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia, and TD Canada Trust) that dominate the banking industry in Canada are in Toronto. It is also home to the Toronto Stock Exchange (TSX), the world’s principal exchange for mining, oil, and gas.
One-quarter of Canada’s population lives in the Greater Toronto Area (GTA). The largest city in Canada and with a multicultural population of 6.2 million people, Toronto is North America’s second largest financial services centre and has one of the highest concentrations of financial services company headquarters in the Americas. Growing its global footprint, Toronto maintains its leading position as an important global financial centre.
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