CRA Report Quantifies the Economic Impact of Arbitration Activity in Toronto
Gregory K. Bell
Charles River Associates was commissioned by Arbitration Place, an international arbitration center in Toronto, to conduct a study of the economic impact of arbitration on the city of Toronto. The resulting report, “Arbitration in Toronto: An Economic Study,” is believed to be the first of its kind to assess the economic impact of arbitration activity on a host city. Based on the responses, the report forecasts approximately 425 arbitrations in Toronto for 2012, generating an economic impact of CAD$256 million, growing to CAD$273 million in 2013.
CRA consultants surveyed Toronto-area lawyers active in arbitration to understand the volume of arbitration activity and associated expenditures in Toronto, including the number of arbitrations, costs, and expected arbitrations for 2013. The report concludes that arbitration activity has a significant and measureable impact on Toronto’s economy. CRA consultants, Gregory K. Bell, Andrew Tepperman, Justin Ho and Andrew Smith worked on the report.
Click here to download a PDF version of the report.