Toronto is the provincial capital of Ontario, and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. With over 2.5 million residents, Toronto is the fifth most populous municipality in North America. Toronto is at the heart of the Greater Toronto Area, and is part of a densely populated region in Southern Ontario known as the Golden Horseshoe, home to over 8.1 million residents – approximately 25% of Canada's population. The metropolitan area has a population of 5,113,149, and the Greater Toronto Area has a population of 5,555,912.
As Canada's economic capital, Toronto is considered an alpha world city by the Globalization and World Cities study group and 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 Canada. Toronto is consistently rated as one of the world's most livable cities. In addition, Toronto was ranked as the most expensive Canadian city in which to live. Residents of Toronto are called Torontonians.