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New York City tourism spurs $74 billion economic impact
New York City’s tourism industry continued to bolster the state and city economy in 2023, generating $74 billion in economic impact.
It represented more than $48 billion coming from direct spending and activity supported over 380,000 leisure and hospitality jobs.
This works out at roughly 9% of the city’s workforce.
Tax revenue totaled more than $6 billion.
New York City Tourism + Conventions, the official destination marketing organisation for the five boroughs released its final 2023 forecast.
It forecast 61.8 million travellers in 2023, marking a recovery of 93% of the record 2019 visitation levels.
International visitation, which accounts for nearly half of all visitor spending, will end the year with 10.8 million visitors in 2023
This is a 14.9% year-over-year increase.
In 2023, NYC’s five largest international markets will be the UK (974,000), Canada (864,000), France (728,000), Brazil (589,000) and Germany (554,000).
However, Asia-Pacific markets are returning at a slower pace due to distance and economic concerns.
The China market is beginning to return as flight capacity gradually increases.
China was New York City’s second-largest overseas market in 2019.
“New York City is back and this year’s tourism numbers prove our economic recovery is coming back stronger than ever,” said New York City Mayor Eric Adams.
“New York City’s tourism industry touches every corner of the five boroughs—supporting small and minority-owned businesses and more than 380,000 local jobs.”
New York City Tourism + Conventions data forecasts domestic visitation will reach 51.1 million in 2023.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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