DiNapoli: New York’s tourism sector is nearing full recovery
CITYWIDE — NEW YORK’S TOURISM SECTOR is approaching a complete recovery as visitor spending and related tax revenue have surpassed pre-pandemic levels, according to a new report from New York State Comptroller Thomas P. DiNapoli. The city estimates it will exceed pre-pandemic levels and welcome a record 68 million visitors by 2025. Driving this recovery have been domestic travelers, especially those making leisure trips. The 50.6 million U.S. visitors to the Big Apple in 2023 comprised 7% more than in 2022, equivalent to 95.3% of those who visited in 2019. Moreover, revenue from this tourism has risen, with visitors having spent more than $48 billion in New York during 2023, up 1.3% over 2019. The higher expenditures are attributed to price increases, including average daily hotel room rates, which exceeded $300/night. The uptick is projected to generate a record $4.9 billion in sales and other tourism-related tax revenue for the city for Fiscal Year 2024, a 16% jump since FY 2020.
However, Comptroller DiNapoli’s report showed that international travelers comprise about 20% of the city’s visitors, but their return has been slower after their numbers fell by more than 82% during the height of the pandemic.
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Brooklyn Boro
View MoreNew York City’s most populous borough, Brooklyn, is home to nearly 2.6 million residents. If Brooklyn were an independent city it would be the fourth largest city in the United States. While Brooklyn has become the epitome of ‘cool and hip’ in recent years, for those that were born here, raised families here and improved communities over the years, Brooklyn has never been ‘uncool’.