TORONTO, Aug. 21, 2026 /CNW/ -- Toronto residents are increasingly concerned the city is headed in the wrong direction and that it is becoming harder for residents to build a future here. Ahead of October's municipal election, a new poll from the Toronto Region Board of Trade in partnership with Ipsos reveals growing concerns about the rising cost of living, economic opportunity and Toronto's long-term competitiveness.

The findings point to a growing sense of economic malaise across the city. More than half of residents (55%) believe Toronto's prosperity is on the wrong track, while more residents say the city is falling behind (37%) than moving forward (22%). A majority (57%) believe it is becoming harder for people to get ahead in Toronto than it used to be.

At the heart of these concerns is the city's affordability. Seventy-six per cent of residents identified cost of living as one of Toronto's top economic challenges, while 53% ranked it as the single most important challenge facing the city's economy today.

As a result, residents are increasingly worried about Toronto's long-term ability to attract and retain talent. Three-quarters (76%) are concerned Toronto could lose talented workers and young professionals to other cities, and more than one-third of residents (37%) say they are likely to leave Toronto within the next five years due to affordability concerns. Among younger residents, that number rises to 52% of Gen Z and 46% of Millennials.

"Torontonians know that despite some progress, the challenges facing this city are significant. They want leaders who are prepared to act with urgency," said Giles Gherson, President and Chief Executive Officer of the Toronto Region Board of Trade. "Addressing our high cost of living means we must make investment decisions that grow our economy, drive business investment, create good jobs, and allow more people to build a future in Toronto."

Residents are looking for greater urgency from the mayor and council to address growing economic malaise. Fifty-nine per cent of respondents said Toronto needs faster decision-making, 57% want more willingness to try new solutions, and 52% believe the city needs a stronger focus on economic growth. Forty-five per cent said Toronto should move more quickly to address major challenges even when solutions involve difficult trade-offs, compared with just 15% who favour a more cautious approach.

The findings are being released as the Toronto Region Board of Trade launches What's at Stake, a voter awareness campaign calling for a more ambitious conversation about the choices facing Toronto in the upcoming municipal election. The campaign focuses on three issues that will shape the city's long-term affordability and economic competitiveness: making room for both homes and jobs; clearing gridlock; and building sustainable city finances.

Residents also see affordability and economic growth as strongly connected. Ninety-two per cent said the cost of living has an impact on Toronto's future prosperity and competitiveness, while 89 per cent said the same about housing affordability and 87 per cent pointed to access to good-paying jobs.

"Companies cannot succeed if employees cannot afford to live near their place of work, and residents need a strong and growing economy that supports good jobs and creates opportunities," Gherson said. "Without a clear plan for growth, Toronto risks falling behind competing cities and losing talented workers, entrepreneurs and young professionals who will choose to build their futures elsewhere."

For more information on the campaign, visit bot.com/WhatsAtStake.

About the survey

The Ipsos survey was conducted online between July 20 and August 4, 2026, among 801 adults aged 18 and older living in Toronto through the Ipsos I-Say Panel. The results are considered accurate to within +/- 4.2 percentage points, 19 times out of 20, of what the results would have been had all Torontonians aged 18 and older been polled.

SOURCE Toronto Region Board of Trade