Toronto is a cosmopolitan city with a wonderful network of parks, recreational, and cultural facilities. It is the largest city in Canada, with a population consisting of over 6.1 million people and 8.1 in the Golden Horseshoe. Toronto is the home of seven professional sports teams and the third largest English-speaking theatre district in the world, behind New York and London. It is one of the worlds most multicultural cities as it is home to more than 80 ethnic communities from all over the world. Half of the population of Toronto was not born in Canada. A dominant force in the business and economy of the nation, it is also the cultural centre of English-speaking Canada. The economy of Toronto is one of the largest in the world, worth $315 billion US. Toronto has also been labeled a "world city".