coronavirus pandemic in the Greater Toronto Area for Thursday.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.Some of the hardest hit sectors include:Destination Toronto said when the Greater Toronto Area region is factored into the analysis, the economic losses grow from $8.35 billion to more than $14 billion.
Toronto lost $8.35B in tourist activity due to 1st year of COVID-19 pandemic Cash-strapped municipalities in Ontario will receive an additional $500 million to help address pandemic-related costs.Municipal Affairs Minister Steve Clark says the money can be used to pay for community services and ongoing capital.