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Opportunities Knock: Toronto versus Its Financial Service Competitors

In this edition of Graphic Intelligence, we show the expected adverse or positive impacts of recent economic shocks to some leading specialized financial centres and regional full-service centres.

Using three types of shocks—the vote in the United Kingdom to leave the European Union (the so-called Brexit), the controversy over offshore accounts (i.e. the now-famous Panama papers) and the lack of government legitimacy in emerging markets (e.g. the impeachment of Brazilian President Dilma Rousseff)—we expect negative impacts for many global financial centres, creating opportunities for Toronto specifically, and Canada more generally.

To learn more about the ways Canada can exploit its comparative advantage in financial services, read “Playing from Strength: Canada’s Trade Deal Priorities for Financial Services.”