Toronto Pearson’s “Exceptionally Good Year” as a Global Travel Hub

The Greater Toronto Airports Authority (“GTAA”) saw continued strength in demand for air travel at Toronto Pearson (YYZ), Canada’s busiest airport, in 2024.

Passenger volumes increased 4.4% to 46.8 million compared to 2023. Growth was led by a 7.5% increase in international travel, reflecting YYZ’s status as North America’s most internationally connected airport.  

“This was an exceptionally good year for Pearson’s standing as a global travel hub,” said Deborah Flint, President and CEO. 

“As we continue to build back towards our 2019 peak in passenger numbers, we successfully attracted seven new airlines to start operations here – the most of any large airport in North America. We also secured the highly coveted title of North America’s Best Airport Over 40 Million Passengers in the annual Airport Service Quality awards – the industry’s gold-standard ranking.”

Flint continued: “These are incredible achievements and reflect the gains we have already made in the early stages of our new 10-year strategic plan. To accommodate growth and changing customer expectations, we are investing across the airport to improve the passenger experience, support operational resilience and add capacity, including through digital transformation initiatives and adoption of new technologies.”

A key element of the airport authority’s strategic plan is Pearson LIFT, a long-term capital program to accommodate projected passenger growth over the next decade. Announced in April 2024, LIFT is a major infrastructure investment plan focused on transforming Pearson into one of the most advanced, sustainable and passenger-friendly airports in the world.  

Pearson LIFT will revitalize existing facilities, replace aging assets and build substantial new modernized terminal space for Pearson passengers and partner airlines. 

“LIFT is vital to increase our competitiveness and enhance our position as a global travel hub and key driver of the Canadian economy,” said Flint. “Our plans have been formally endorsed by our airline partners at Pearson, and we are moving forward with pace to deliver this much-needed new infrastructure quickly and affordably.”

Domestic travel through Pearson actually dropped slightly in 2024, from 16.8 to 16.7 million passengers. But international traffic picked up the slack by increasing 7.5% or 2.1 million passengers to 30.4 million.

The GTAA also says it is closely monitoring geopolitical events, assessing risks and positioning itself to adapt as ongoing tariff pressures create economic uncertainty.