The economy of this region is very diverse. , the
Toronto Stock Exchange is the third-largest in North America by market capitalization (after the
New York Stock Exchange and
Nasdaq), and seventh-largest in the world. . The automotive industry is a major sector of the Golden Horseshoe's economy. Cities including Hamilton, Oshawa, Oakville, Whitby and Kitchener all contain major large-scale industrial production facilities, Hamilton being dominated by the
steel industry and Oakville and Oshawa primarily in the
automotive industry. Other significant automotive-production facilities also exist in
Brampton and
St. Catharines. While manufacturing remains important to the economy of the region, the manufacturing sector has experienced a significant decline since 2000 as a result of unfavourable currency exchange rates, increasing energy costs, and reduced demand from the United States, which is by far the largest market for Ontario's goods. The
Port of Hamilton and the
Port of Toronto are the two largest
inland ports on
Lake Ontario. The
Welland Canal system handles tanker ships and recreational traffic through the Great Lakes. Large rail and truck distribution facilities are located in Toronto,
Vaughan and Brampton. Food processing is also a key ingredient in the economy. is Canada's largest wine-growing region and a major producer of
Ontario wine. Niagara Falls has one of the world's largest per-capita tourist economies, benefiting from millions of tourists coming to see its waterfalls, shop in its numerous stores, and visit its many attractions. The winemaking and fruit-growing industries of the
Niagara Peninsula produce wines, in particular, the
ice wine for which the region is known. , sectors such as
information technology, health care, Agtech, tourism, research and finance provide the bulk of growth in the Golden Horseshoe. The cities of
Brampton,
Markham,
Waterloo Region and
Mississauga are emerging as hubs for technology and innovation. The region is one of the largest tech cluster in North America outside of
Silicon Valley. The area is home to more than 15,000 tech companies, including over 5,000 startups, and nearly 300,000 employees in high-tech industries. About two-thirds of those employees are classified as “tech workers,” which includes programmers, developers, etc. with 8 percent of the total workforce employed in tech. ==Education==