Toronto Mayor John Tory met with World Exposition officials to discuss the possibility of making a bid for the 2025 event.
The World Expo, also known as the World's Fair, is a large public event held every five years. The expo includes more than 169 pavilions, each created by a different member country.
Tory and other city councillors met with an official from the Bureau of International Expositions on Monday to discuss the experiences of previous host cities.
The six-month event has been held in Canada twice before, in Montreal in 1967 and in Vancouver in 1986.
The event carries a multi-billion-dollar price tag, but many councillors told CTV Toronto that the event could stimulate spending in the city.
"I think there are a lot of arrows pointing in the direction of saying yes," Coun. Joe Mihevc told CTV Toronto's Natalie Johnson on Monday.
"It would offer a lot of possibilities for city building."
One councillor said the Expo could be an opportunity for growth of the Port Lands, an industrial and recreational neighbourhood east of downtown. The area's revitalization plan began in 2004, and is expected to take 30 years.
"What it means to the future of this city is a whole new extension of our downtown commercial business activity as well as residential and infrastructure we've long needed in that part of the city," Coun. Shelley Carroll said.
With a report from CTV Toronto's Natalie Johnson
