Visa Canada data shows TIFF 2026 boosted spending across Toronto and supported small businesses

• International visitor spending on Visa cards during TIFF rose 12% year-over-year; visitors spending ~40% higher on average than domestic cardholders

• Small businesses captured 15% of total festival spending

New Visa Canada spending insights show international visitors spending on Visa cards drove strong economic activity during the 2026 Toronto International Film Festival (TIFF), with overall spending up 12% year-over-year and ~40% higher on average than domestic Visa cardholders.

Global festival, global spending

The festival continued to draw visitors from around the world, with the United States, China, the United Kingdom, Germany and France remaining the top five visitor markets year-over-year. Visitor growth within these markets was strongest from the United Kingdom (~30%) and Germany (~25%), followed by France (~10%). At the same time, spending growth was particularly strong among visitors from South Korea (~+50%), Brazil (~+40%) and Japan (~+40%), underscoring TIFF's broad international draw.

This increase translated into stronger spending across Toronto businesses of all sizes, particularly in apparel (~+20%), transportation¹ (~+15%), retail goods (~+15%), restaurants (~+15%) and lodging (~+10%).

"TIFF is more than a cultural moment. It's an economic engine for Toronto," said Michiel Wielhouwer, President and Country Manager, Visa Canada. "World-class events like TIFF create a vibrant ‘pop-up economy,' and our data shows the festival created economic momentum across Toronto, with increased spending benefiting businesses, including small businesses. As a proud TIFF partner for more than three decades, we're delighted to have recently renewed our partnership and to continue supporting an event that helps spotlight Toronto to the world while driving economic activity."

Culture drives commerce across Toronto

Festival Street and the surrounding Entertainment District were at the centre of commerce during TIFF. While Festival Street remained a focal point for activity, spending growth extended more broadly across Toronto. Visa card spending across the City of Toronto rose ~5% year-over-year, suggesting visitors explored neighbourhoods, restaurants and businesses across the city.

Small businesses at the heart of the festival

Small businesses played a meaningful role in TIFF's economic impact, accounting for ~15% of total festival spending. Domestic visitors outspent international visitors across most small business merchant categories, with particularly strong average spend in vehicle rentals (~+80%) and at small business electronics merchants (~+30%). International visitors spent more on average in select small-business categories, including lodging (~+35%), restaurants (~+30%), and transportation (~+20%).

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¹ Includes taxi cabs, public transit and parking

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About the research:

1. All comparisons are between TIFF 2026 and TIFF 2025 to control for seasonality and capture the spending lift during the TIFF days.
2. Small Business in VisaNet data is defined as a merchant with consistent transaction activity over a rolling time period and a cumulative payment volume under Visa Canada's SMB threshold. The Small Business classification was done based on data received at the end of August.
3. Data Source: VisaNet Data; Identified by analyzing in-person transactions made by Visa cardholders in Toronto during the specified festival periods. All comparisons are between TIFF 2026 (September 10–20, 2026) and TIFF 2025 (September 4–14, 2025).
   

Media Contact
Mo Zigby
Canadamediainquiries@visa.com

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