Wealth gap between Montreal and Toronto remains steady, report finds

MONTRÉAL — A fresh report has revealed that while Quebec's regions have narrowed the economic gap with Ontario, the wealth disparity between Toronto and Montreal persists. Conducted by the Institut du Québec research group, the study reveals Quebec's gross domestic product per capita stood at 91 percent of Ontario's in 2011, excluding Toronto and Montreal.

By 2022, this disparity had nearly closed, with Quebec's per capita GDP reaching 99 percent of Ontario's. However, the report indicates that the gap between Toronto and Montreal has remained unchanged, with Montreal's per capita GDP at around 80 percent of Toronto's. Jean-Baptiste Vallantin-Dulac, an economist from the Institut du Québec, clarifies that Montreal's performance has not been subpar, but rather Toronto's economy is predominantly driven by the lucrative finance and insurance sectors.

The research group cautions that unless Quebec revises its immigration policies to attract a highly-skilled workforce, the gap between Montreal and Toronto could widen over time. This account, originally published by The Canadian Press on November 10, 2026, is provided by Stéphane Rolland.