Translation Services in Niagara Falls – Economic Profile
With its world renowned waterfalls, luxury hotels and colourful nightlife, Niagara Falls and the surrounding region rely heavily on the tourism industry. According to a statistic from Niagara tourism department, “more than 17 million visitors from all over the world will spend over $2.1 billion in the Niagara Region annually”.
Located on the Niagara River in the Golden Horseshoe region of south-central Ontario, the Niagara Region is situated in the heart of a dynamic bi-national region that stretches southeast from Toronto through Hamilton in Ontario all the way to Buffalo and even Rochester, New York. The Canadian side of Niagara Falls boasts the larger and more well-known Horseshoe Falls, while the smaller American Falls are located in Niagara Falls, New York.
Niagara Falls’ goal is to be a city far more than a natural phenomenon. With a combination of two casinos, a network of challenging golf courses alongside historic sites from the War of 1812, many live entertainment venues and theatres and efficient highway connections, Niagara Falls aims to be “Canada’s Premier Tourism Investment Region,” as well as a global tourist destination.
The three US-Canada border crossings in the Niagara Region record the largest bilateral trade flows in the world, with $87 million worth of goods crossing the Peace Bridge every day. 82% of US exports to Canada come in through Niagara Falls by bridge/road.
The Niagara Region has two post-secondary institutions, Brock University in St. Catharines, and Niagara College in Welland; both organizations have local campuses in Niagara Falls as well as in Niagara-on-the-Lake.
The region is the No.1 tourism destination in Ontario, and at least $2.8 billion of investment opportunities are available with a potential to create 24,000 more jobs. It is estimated that capital spending alone is predicted to reach $2.8 billion and 65,000 additional tourism jobs will be created in the next few years by the Regional Municipality of Niagara.
In terms of their economic contribution to Niagara Falls, Ontario, the importance of the casinos cannot be understated. In the mid-1990s the Ontario government introduced legal wagering to the local economy with Casino Niagara. The late1990s have seen the construction of numerous luxury hotels and tourist attractions. The Niagara Fallsview Casino, an impressive mega-complex for shopping, dining and gaming including a hotel, was opened in 2004.
Because of the large group of tourists who visit from all over the world, and the region’s increasing international renown, multi-lingual services, particularly in the marketing and service sector, are now in great demand.
