Apr 22, 2025
Turns out running isn’t just good for cardio, overall health and longevity, it also lends a helping hand to the economy. According to a recently released study, the 2024 Tata Consultancy Services (TCS) Toronto Waterfront Marathon generated $50.3 million in economic impact for the City of Toronto and $56.3 million in Ontario economic activity.
"Canada has always been a meeting place of cultures, and our marathon embodies that spirit through the strong community built by our participants. Racers from over 70 countries come together bringing their stories, families, and energy to our city, all united in the spirit of sport and philanthropy," said Charlotte Brookes, Canada Running Series. "This event is proof that local tourism is thriving, and that our global connections strengthen us at home."
The economic impact of Toronto’s marathoners
With more than 30,000 participants and 150,000 spectators, the 2024 race weekend filled hotels, restaurants and businesses across the city, proving that major Canadian events remain a powerful draw for both domestic and international travelers.
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The marathon contributed $23.2 million to the city’s GDP and supported 349 jobs in 2024, alone.
Per-party spending from attendees was at about $979, on accommodations, groceries, entertainment, retail, transportation and vehicle expenses. Media, VIP and volunteers spent an additional $126,000.
The combined purchase of goods and services by event organizers stood at $5 million.
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Impact on out-of-towners
The event in 2024 brought in over 66,000 out-of-town visitors, accounting for nearly one tenth of the total tourism in Toronto that month, with 60% indicating the event as the sole reason for their travel.
With 83% of visitors staying overnight, and aggregate visitor spending reaching $30 million, the event bolsters local businesses, accommodations, restaurants and more with the economic boost. On average, visitors stayed 2.8 nights in the city.
What’s more, 60% said the event was their sole reason for visiting the city.
The total net economic impact on Canada as a whole was $31.4 million, with tax revenues totaling $11.6 million across the country.
The 2025 marathon is set to take place October 18 to 19. It is an Olympics-qualifying event.
Survey methodology
For this study, 1,580 attendee responses were collected on-site during the 2024 marathon, developed by STC, alongside the event organizers.
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Nicholas completed his master's in journalism and communications at Western University. Since then, he's worked as a reporter at the Financial Post, Healthing.ca, Sustainable Biz Canada and more. Aside from reporting, he also has experience in web production, social media management, photography and video production. His work can also be found in the Toronto Star, Yahoo Finance Canada, Electric Autonomy Canada and Exclaim among others.
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