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Toronto, according to the U.N. is the most culturally diverse city on the planet. 56% of the city was born outside of Canada and a recent survey where people were asked to name their first language (the language they are most comfortable with) resulted in 130 different responses with the top 25 being English, Italian, Chinese, Cantonese, Portugese, Punjabi, Spanish, Polish, Tagalong (Phillipino), Tamil, French, Urdu, Greek, Russian, Arabic, Persian (Farsi), German, Viatnamese, Korean, Mandarin, Gugarati, Ukranian, Hungarian, Hindi and Kroatian (at 20,265) in that order. It should also be noted that Toronto adds an additional 100,000+ immigrants a year from outside Canada alone.
Toronto is constantly in the midst of one festival or another - the Toronto International Film Festival is now the premiere film festival in North America and 2nd only in the world to Cannes beyond that there are ... just too many to name, literally hundreds and hundreds of cultural festivals, neighborhood festivals, arts festivals, music festivals etc., it could well be as many as 1,000 now. And while you wouldn't know it to walk down the street there are thriving art, music, literary, film, theatrical etc., scenes in every nook and cranny of the city. On any given day there are probably a hundred or so solid choices for 'what to do today' - from musical performances, gallery openings, museum exhibits, open mics, authors readings, film screenings, theatrical performances...note: the hundred or so does not include the night clubs and multiplexes or the sports teams - baseball, basketball, football (CFL and soon some Buffalo Bills home games), hockey (and the NHL hall of fame), soccer and lacrosse
If you don't have money, or just don't feel like doing any of that there are alot of parks, neighborhoods that are good to take a walk in and although it's not my thing I'm told it is great for shopping. Compared to most US cities Toronto is extremely walkable, and making the city more pedestrian and bicycle friendly is high on the list of priorities at city hall. Toronto also has one of the world's best public transit systems. If you feel like getting out of the city - Montreal is a short train ride away (and I could come up with a spiel almost like this one about Montreal) and like everywhere in Canada unspoiled nature is never far away.
Despite what you'll hear from other parts of Canada people here are generally nice and crime is low (though we tend to freak out about it because it's not part of our culture). Finally, Toronto gives me hope for the world because hundreds of cultures come together here and mesh, without much friction and even make music and art and dance and sing and play together.
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