As immigration soared, Toronto became increasingly cosmopolitan — and the festival followed suit. By 1993, an economic impact study commissioned by the festival showed it was generating $30 million for Toronto. At the same time, the city was proving to be a magnet for all kinds of international endeavours, including the 1995 arrival of the Toronto Raptors, the NBA’s official entry into Canada.
Toronto now has NBA as well as a major league film festival. That necessitated a new name: the Festival of Festivals officially became the Toronto International Film Festival in 1994.
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