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Businesses that benefit from TIFF say their numbers are improving | CBC News
Loaded
Toronto
BUSINESSES THAT BENEFIT FROM TIFF SAY THEIR NUMBERS ARE IMPROVING
Local businesses say the festival — and the benefits that come with it — are
starting to pick up again after years of uncertainty due to the COVID-19
pandemic.
FESTIVAL BRINGS 400,000 PEOPLE AND INJECTS MILLIONS OF DOLLARS INTO TORONTO
ECONOMY, BOARD OF TRADE SAYS
CBC News · Posted: Sep 11, 2024 1:00 AM PDT | Last Updated: September 11
The 2024 iteration of the Toronto International Film Festival runs Sept. 5 -
15th. (Michael Wilson/CBC)
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The Toronto International Film Festival (TIFF) is in full swing — bringing
together filmmakers, actors and cinephiles from across the globe.
While it's an exciting time for the film industry, the festival also
significantly impacts local businesses. Businesses that benefit from the
festival say things are starting to pick up again after years of uncertainty due
to the COVID-19 pandemic.
"It's so great to see people getting out and dressing up," said Vince Farago,
general manager of Fifth Social Club, which hosts TIFF parties every year.
Farago says the hype and the number of people attending his events aren't quite
what they were pre-pandemic, but there is more momentum this year than last
year.
"You definitely notice a big uptake on people coming around looking for a TIFF
party, whether there's expected to be a celebrity there or not. They're just out
and about, which is great for the city," Farago said.
LACK OF STAR POWER LAST YEAR
Actors and writers strikes ongoing during last year's festival meant there was a
lack of star power on the red carpets, which some business owners say dealt them
another blow following years of pandemic restrictions.
"Last year, the strike kind of did hurt some of our events," Farago said.
Charles Khabouth, founder and CEO of INK Entertainment, says his business's
entertainment venues are seeing more than just a normal return to form
during TIFF this year.
Local businesses say the crowds drawn to TIFF help power their businesses. (Evan
Mitsui/CBC)
"The events, energy and engagement are significantly higher," Khabouth said,
adding festivals like this are key to the city's growth.
"These events attract a global audience, which increases demand for
accommodations, dining, and entertainment, leading to higher revenues and
greater visibility for local businesses," he said.
'YOU CAN FEEL THE VIBRANCY,' SAYS DESTINATION TORONTO SPOKESPERSON
Kathy Motton, spokesperson for Destination Toronto, describes TIFF as two
festivals running at once.
"There's the industry portion of the festival, where you have all of these
producers and directors come from around the world to see the films, and then
you also have an event that's really focused on cinephiles and people that love
to watch movies," Motton said.
She said there are major benefits to these visitors sharing their experiences on
social media, which helps promote Toronto's reputation to an international
audience.
"I think you can really feel the vibrancy of the city," Motton said.
WATCH | Films to watch out for at TIFF 2024:
Films to watch out for at TIFF 2024
2 months ago
Duration 1:31
The Toronto International Film Festival is underway and CBC’s senior
entertainment reporter Eli Glasner has a list of films to watch out for this
year.
Jennifer van der Valk, spokesperson for the Toronto Region Board of Trade, says
the city's visitor economy is still recovering, but TIFF remains an economic
powerhouse.
"It's so much more than a film festival; it's a cultural economic play for
Toronto. It brings 400,000 people annually and injects millions of dollars into
our economy. So it is a win-win situation for the city and our economy," she
said.
Van der Valk said the city is facing challenges right now, including a traffic
"congestion crisis." She said continued investments in transit as the visitor
economy recovers are vital.
"These kinds of productivity challenges are getting in the way of making
Toronto attractive to large scale events like this. However, we are making
strides," she said.
"These large scale events are absolutely critical to keeping our economy vibrant
and making sure that business tourism is something that is a steady part of the
drum beat of Toronto."
Those benefits for the city and the economy are part of the reason why Farago,
of Fifth Social Club, hopes attendance at festivals like TIFF and events
surrounding the festival continue to see numbers steadily climb.
"I hope it just keeps going back to what it used to be," Farago said.
CBC's Journalistic Standards and Practices|About CBC News
Corrections and clarifications|Submit a news tip|Report error
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