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.
“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 CEO
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.
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.