In very general terms, yes, but according to the Globalization and World Cities Research Network (GaWC), most of the major Canadian cities are subdivided even further into different categories.
http://www.lboro.ac.uk/gawc/world2012t.html
Toronto is an Alpha city.
Montreal is a Beta +
Vancouver is a Beta
Calgary is a Beta -
Ottawa and Edmonton are high sufficiency cities.
Halifax and Winnipeg are sufficiency cities.
The following is a general guide to the rankings.
Alpha and Alpha- cities are cities that link major economic regions into the world economy.
Beta level cities are cities that link moderate economic regions into the world economy.
Gamma level cities are cities that link smaller economic regions into the world economy. (Canada has no Gamma cities)
Sufficiency level cities are cities that have a sufficient degree of services so as not to be obviously dependent on world cities.
And the population numbers, one of the aspects that determines where a city is located, corroborate this as well.
Toronto just hit a metro area population of 6 million.
YUL also just hit 4 million this year.
YVR is 2.3 million (2011)
YYC is 1.2 million. (2011)
All four are in different brackets and are quite far from catching up to the next bigger city. Just like Toronto is far from catching up to Alpha + or ++ cities such as NY, London, Paris or Hong Kong.
Another study done by the Chicago consulting firm A.T Kearney in 2014 lists a global cities index (GCI), ranking cities from 1 to 42 based on a rating of business activity, human capital, information exchange, cultural experience and political engagement. Basically they measured how globally engaged a city is and they used 26 metrics to get there. Now i admit, some of these metrics are secondary, such as richness and quality of culinary offering, but still, it helps to paint the whole picture.
http://www.atkearney.com/documents/10192...pdf/3628fd7d-70be-41bf-99d6-4c8eaf984cd5
Page 4. Figure 2.
NYC is #1, with a rating of 61.7
Toronto is # 13 with a rating of 32.4
Montreal comes in at # 30 with 25.4, so not that far off from Toronto, and ahead of cities like Zurich, Rome, Sao Paulo, Mexico City and Atlanta.
Vancouver is not on the list.
So once again, Toronto is ahead of the pack, yes, but Montreal is firmly in second place, Vancouver a distant third, and then all the rest.