Well, in Kitchener-Waterloo there's fairly large Serbian (30-40,000 ppl), Romanian (10-15000) and Turkish (5000-10000) communities. Increasingly, there's also a very large South American/Latino community (25000 maybe) and of course older immigrant communities of Polish and Portuguese descent in Cambridge. Kitchener of course is traditionally German, while Waterloo is a mix of cultures, with Mennonites being the founding culture.
Then there's the University of Waterloo, which increasingly is becoming Muslim/Chinese.... And WLU which seems more like small town Canada....
Now, in K-W, the university crowd (students and professors, researchers etc) is very socially separate from the rest of the population, which is somewhat bizarre given the smaller population of the place compared to Toronto, for example.
So, while Toronto and Vancouver also have vibrant Serbian/Croatian communities, the higher concentration of them in Kitchener makes them a stronger group to seek out if you're looking for employment, networking, etc.
Granted, most foreign degrees are useless in Canada (sadly), so most of the Serbian/Romanian/Turkish/Latino etc ppl I met worked on the shop floor of Rim, other manufacturing companies etc unless they had either a specialized degree or a degree from a Canadian U.
I think the main problem with K-W right now is the massive layoffs in the manufacturing economies. Otherwise, Waterloo seems to be okay.
In conclusion, K-W (and C) are increasingly becoming extremely diverse, quite comparable to the GTA but due to smaller size, overall I saw more interaction between ethnic groups/cultures, although as with everywhere else, it is class based.
Did I answer your question Observer Walt?
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Ontario (year of the?) Rat: Honestly, I think you'd be better off initially seeking a job in a smaller Ontario community. In Toronto, you'd be stuck in temp hell forever, while in a smaller town like Stratford or even Waterloo you could probably get a job within a month and have the added bonus of being in cheaper rental housing.