From March through May Toronto was at just 46 per cent of levels for the same period in 2019, tied with Oakland, New Orleans and Calgary.
Downtown Toronto’s economic recovery from COVID-19 is lagging behind most other North American cities, according to a new research study.
It is no coincidence, said study co-author Karen Chapple, that Toronto and San Francisco were two cities with some of the longest, deepest lockdowns during COVID-19. Other Canadian cities also lagged behind their U.S. counterparts. While the severity and length of lockdowns played a key role in how a city’s downtown economy came through COVID, two other factors were also major contributors, Chapple added. And both have made it harder for Toronto during the recovery.
“I don’t think this would come as any surprise to our members. That Toronto and the downtown core in particular are struggling lines up with what we’re hearing from members. That has been the case since the first lockdown: Toronto has lagged behind,” said Mallough, adding that many small business owners are realizing that the economic landscape might have changed permanently.
“Retailers with locations in the suburbs are seeing steady traffic — people are shopping where they work and live,” said Wasylyshen, adding that the flow of tourists into the city is also a fraction of what it was before COVID struck.In an emailed statement, Toronto Mayor John Tory acknowledged the downtown recovery has taken longer than he’d hoped.
The mayor also says the numbers are starting to pick up for public transit, rising to 60 per cent of pre-pandemic ridership from the 20s during the depths of the pandemic.
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