Toronto is the largest city in Canada and the provincial capital of Ontario. It is located in Southern Ontario on the northwestern shore of Lake Ontario. With over 2.5 million residents, it is the fifth most populous municipality in North America. Toronto is at the heart of the Greater Toronto Area (GTA), and is part of a densely populated region in Southern Ontario known as the Golden Horseshoe, which is home to over 8.1 million residents—approximately 25% of Canada's population.

As Canada's economic capital, Toronto is one of the top financial centres in the world. Toronto's leading economic sectors include finance, business services, telecommunications, aerospace, transportation, media, arts, film, television production, publishing, software production, medical research, education, tourism and sports industries. The Toronto Stock Exchange, the world's eighth largest in terms of market value, is headquartered in the city, along with the most Canadian corporate headquarters of a major Canadian city.

Toronto's population is cosmopolitan and international,reflecting its role as an important destination for immigrants to Canada. Toronto is one of the world's most diverse cities by percentage of non-native-born residents, as about 49% of the population were born outside of Canada.

Because of the city's low crime rates, clean environment, high standard of living, and friendly attitude to diversity, Toronto is consistently rated as one of the world's most livable cities by the Economist Intelligence Unit and the Mercer Quality of Living Survey. In addition, Toronto was ranked as the most expensive Canadian city in which to live in 2006.

Downtown Toronto features many condominium and loft complexes. More are under construction.