CARIBANA'S CONTRIBUTION
CARIBANA generated over $438 million dollars of economic activity in Toronto annually 
Over $2 billion dollars of economic activity for the city and $1 billion dollars of tax revenue between the province and the city
Since then the Festival has grown by leaps and bounds into a driving force in the City of Toronto celebrating Caribbean arts and culture.  It has placed Toronto on the international map as a world class city, and it has provided hundreds of millions of dollars of economic activity annually for the City, Province, and Federal Governments.  Celebrated as the Largest Street Festival of its kind in North America, we are proud to share its vibrancy and cultural extravaganza in one of the most multiethnic, multicultural, and multi-religious cities in the world.

Attached Ryerson Study

http://www.ryerson.ca/news/news/Research_News/20100727_caribana

There have been a number of studies completed (Price Waterhouse, City Task Force and Ryerson University) and they all state that the CARIBANA festival generated over 300 million dollars in the early nineties. Moreover, accordingly to Ryerson University’s latest study they estimated that the festival was generating enormous amounts of revenue for the local restaurants, retailers, hotel and airlines industries etc,.  It was estimated that CARIBANA generated over $438 million dollars of economic activity in Toronto annually, and over $2 billion dollars of economic activity for the city and $1 billion dollars of tax revenue between the province and the city according to Ryerson University’s latest study of 2010

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