The global COVID-19 pandemic has cost Toronto $8.35 billion in tourism because of government-mandated travel restrictions and lockdowns over the past 12 months, according to a study.
The analysis, released by Destination Toronto on Thursday, states that the economic losses are as high as $14 billion if the Greater Toronto region is included in the calculation. The losses have mostly hit the city’s tourism and hospitality sectors, which rely heavily on visitor spending.
