Sunday, May 26, 2024 New York City’s tax revenue generated by tourists has surpassed pre-pandemic levels as a jump in US visitors helped offset a drop in international and business travel. Last year 62.2 million people visited the Big Apple, state Comptroller Thomas DiNapoli said in a report released Thursday.
While that’s down from 66.6 million in 2019, those tourists are expected to generate a record $4.9 billion in sales and other tourism-related tax revenue in the current fiscal year, a 16% jump from 2020 driven in part by rising prices for hotel rooms and other services.
The Covid-19 outbreak that began in early 2020 paralyzed the biggest US city, killing thousands of residents, devastating the office and retail market, and spurring many to flee to the suburbs and other states. The city has been making a slow but steady economic recovery, with visitors returning to Broadway shows, museums and other destinations. Tourism officials had hoped to surpass pre-pandemic levels this year, but a slower-than-expected return of international travelers forced them to push back the forecast to 2025, when the city is expecting to host 68 million visitors, DiNapoli said.
“The industry’s full recovery won’t be complete until we see a full return of international and business travelers,” DiNapoli said. “Our city and state leaders need to focus on keeping New York a desirable and safe destination for individuals and families from around the world.” International visitors m.
