Tourists in New York City are projected to generate a record $4.9 billion in tax revenue for the current fiscal year, according to a new report released Friday by State Comptroller Tom DiNapoli’s office. This marks a 16% increase from 2020, driven largely by rising prices for hotel rooms and other services.
Tourism Numbers Still Below Pre-Pandemic Levels
Despite the surge in tax revenue, the number of visitors to the Big Apple remains below pre-pandemic levels. In 2022, the city welcomed over 62 million tourists, which is 7% fewer than in 2019. The report attributes this decline partly to the slow return of international tourists, who are typically high spenders.
“As we look ahead, the city’s ability to attract and draw visitors from overseas will be key for a full recovery for the industry,” DiNapoli said. “International visitors account for about 20% of total visitors.”
Safety Concerns Impacting Tourism
DiNapoli also cited crime as a potential factor deterring tourists. In the report, he urged city and state leaders to prioritize making New York a safe destination for visitors and their families.
“A lot of people who haven’t even been here said watch out for gun crime,” said Emily Shires, a visitor from the United Kingdom. “We kind of took that with a pinch of salt. That would never put me off going somewhere.”
Domestic Tourism Remains Strong
Over 50 million U.S. residents visited New York City last year. “We love to be in Times Square because it’s so bright and colorful,” said Marlie Shirley, a visitor from Kentucky. “And it’s just really upbeat and fast-paced.”
Path to Full Recovery
DiNapoli emphasized that a full recovery for the city’s tourism industry will depend on the return of international and business travelers, as well as the restoration of more tourism-related jobs.
“Recovery will not be complete until the city sees a full return of international and business travelers and more tourism-related jobs are restored,” DiNapoli noted.
The report underscores the importance of addressing safety concerns and attracting international visitors to sustain and grow New York City’s tourism industry in the post-pandemic era.