The impact of the pandemic had a devastating effect on New York City, with revenues down about $60 billion across tourism, retail, the arts and culture, and transportation. It also led to the loss of 89,000 tourism related jobs and $1.2 billion in lost tax revenue.
Comptroller Thomas DiNapoli released a report detailing the economic impact during 2020 which showed tourism spending was only $13 billion, which was down 73%, and a full recovery is possibly years away.
