Toronto Pearson is not just a Canadian gateway, but a North American one. Located in the heart of Canada’s most important economic area, it benefits from and contributes to the country’s commercial health. As Canada's largest and North America’s second largest international airport, Toronto Pearson is a hub for the movement of people and goods across the country, the continent and around the globe.
But what exactly is a hub airport? A hub airport means greater numbers of connecting passengers, which encourages airlines to provide more direct routes and increase frequencies on given routes, helping move people, products, goods, and services more efficiently. For passengers, when flight frequency increases, there is generally a reduction in overall travel costs and overall travel time.
No other airport in Canada plays this role. Toronto Pearson connects St. John’s with Victoria; Sao Paulo with Paris; and Sudbury with Tokyo. As the country’s primary connector and a major economic driver, it helps Canada compete and stay vital.
There is a two-way relationship between air connectivity and economic growth – without connectivity, growth will be limited. Without growth, connectivity will be limited. This symbiotic relationship reinforces the value of a strong, vital airport in supporting the economy, but also makes clear that the airport is dependent on the economy’s health to generate a need for connectivity.
As Canada takes on a greater role on the world stage, Toronto Pearson will continue to grow and support and serve the needs of Canadians and their communities – nationally, regionally and locally. The ability to access the world is critical for the country’s future and necessary to ensure a diverse, creative and innovative economy.
The connectivity that is made possible by Toronto Pearson plays a pivotal role in the economic success of Canada, with the Global Hub Economic Study providing evidence that shows the significant hand the airport has in fostering sustainable growth for the communities it serves.
Undoubtedly, all airports provide connectivity, but Toronto Pearson does this on a greater level thanks to its favourable location as well as Canada’s thriving economy, and the diverse range of business opportunities offered by the airport’s region.
Leading research firm Frontier Economics considered direct, indirect and induced economic impacts by focusing on traditional factors including Gross Domestic Product (GDP), jobs, employment income and taxes in the Global Hub Economic Study. It also explored how Toronto Pearson – as a global hub – powers international trade and facilitates economic growth by allowing Canadians and visitors to work together at home and abroad.