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Old Posted Jan 27, 2012, 6:43 PM
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Ramako Ramako is online now
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Quote:
Originally Posted by Andrewjm3D View Post
Toronto has been growing at almost the same steady rate since the 70's, back when nobody knew what the oil sands were. The banks deal with so much more then just the oil sands in Alberta.
Yes, but much of the GTA's growth in past decades was due to Ontario's large manufacturing sector. Despite the fact that our manufacturing base has been declining steadily, Toronto has indeed been growing at a steady rate, as you mentioned. That's because of new and diverse sources of income, primarily financial services, of which the oil sands are significant. Without the oil sands, Toronto may have looked a little more similar to mid-western rust belt cities.
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