New York City's economy could fully recover in the 2025 financial year after it recorded 65 million visitors this year, a 3.5% uptick from last year and the second-highest figure in its history.
Mayor Eric Adams and NYC Tourism + Conventions President and CEO Julie Coker announced the latest figures in a joint press release on Friday.
New York City remains the main arrival destination for tourists visiting the United States. Adams and Corker said the influx of visitors boosted the subway system which recorded 1 billion trips before the end of the year.
In October alone, it recorded more than 114 million subway rides and over 40 million bus rides- 10 million more train rides and 3 million more bus rides than last year respectively.
Adams said the tourism sector recorded $79 billion in economic impact, which he attributed to the city's diverse offering for travellers visiting for business or pleasure.
“...New York City remains a dynamic hub for tourism, drawing tens of millions of visitors from around the globe and bringing in $79 billion in economic impact," Adams said.
"Whether visiting for business or pleasure, the five boroughs has everything you need, from conference halls to theatres to restaurants and hotels — New York City remains the heartbeat of innovation, culture, and opportunity. And we’re looking forward to beating our own tourism record next year with a full recovery."
Coker said the direct spend of over $51 billion across the city and state, strengthened local and minority-owned businesses across the hospitality and leisure industries, supported 388,000 jobs, about 9% of the city's workforce and generated more than $6.8 billion in tax revenue, which in turn saved New York City households around $2,000.
“... As we look ahead to 2025, we expect this momentum to continue, further strengthening New York City’s role in driving the state and local economy," Coker said.
