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"A new report from the New York state comptroller’s office released Thursday says the tourism sector in New York City is heading towards a “complete recovery” from the COVID-19 pandemic.
Despite a fewer number of tourists overall, the report indicated that visitor spending has surpassed pre-pandemic levels. According to the report, spending by visitors to New York City topped $48 billion in 2023, topping the $47.4 billion spent by visitors in 2019."
If it’s not adjusted for inflation they still a few billion behind.
“$58,869,125,429.78 in Apr. 2024 equals $48,000,000,000 of buying power in 2019 (Average).
The total inflation rate from 2019 (Average) to Apr. 2024 is 22.64%. The average inflation rate is 4.39% per year.”
"A new report from the New York state comptroller’s office released Thursday says the tourism sector in New York City is heading towards a “complete recovery” from the COVID-19 pandemic.
Despite a fewer number of tourists overall, the report indicated that visitor spending has surpassed pre-pandemic levels. According to the report, spending by visitors to New York City topped $48 billion in 2023, topping the $47.4 billion spent by visitors in 2019."
Best to stay in the Buffalo forum ckh - people in this forum don't lay down and let you walk over them. They live NYC everyday of their lives and know the low down and how much the state gov't lies.
Best to stay in the Buffalo forum ckh - people in this forum don't lay down and let you walk over them. They live NYC everyday of their lives and know the low down and how much the state gov't lies.
What are you talking about? Aren't you in Alabama? Tell the state comptroller, not me.
If it’s not adjusted for inflation they still a few billion behind.
“$58,869,125,429.78 in Apr. 2024 equals $48,000,000,000 of buying power in 2019 (Average).
The total inflation rate from 2019 (Average) to Apr. 2024 is 22.64%. The average inflation rate is 4.39% per year.”
While true, this is a key part of the report: "Despite a fewer number of tourists overall, the report indicated that visitor spending has surpassed pre-pandemic levels. According to the report, spending by visitors to New York City topped $48 billion in 2023, topping the $47.4 billion spent by visitors in 2019."
Also under the interview: "A total of 62.2 million tourists visited New York City in 2023, the report indicated. That number is about 93% of the record 66.6 million tourist visits in 2019, according to the report, and also represents a 9.7% increase from 2022"
So, this is considering that there were less tourists, but surpassing the 2019 total. Meaning, as more tourists come to the city, the more money for the city and the spending would exceed the pre COVID total even further.
Not a guarantee at all. Especially since reports show people are more conscious on spending for their vacations. And the dollar has strengthened against some foreign currencies since then so purchasing power has eroded for some over seas tourists.
And it proves my point. Inflation is so high they beat the numbers with far less people.
My grocery and insurance costs are much higher than pre pandemic levels. Doesn’t make it a good thing.
Not a guarantee at all. Especially since reports show people are more conscious on spending for their vacations. And the dollar has strengthened against some foreign currencies since then so purchasing power has eroded for some over seas tourists.
And it proves my point. Inflation is so high they beat the numbers with far less people.
My grocery and insurance costs are much higher than pre pandemic levels. Doesn’t make it a good thing.
Sure, as nothing is guaranteed, but I believe the point is that revenue is increasing for that industry again. In fact, if you view the video 20 seconds in, it shows that tourists to the city has been steadily increasing since the beginning of COVID in 2020. So, this may be a matter of if this is a trend versus a simple bump up in comparison to recent, post COVID years in terms of revenue.
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