Tourism makes an impact on New York City in 2024
New York City’s tourism industry showed remarkable strength in 2024, moving closer to a full recovery with an estimated total economic impact of $79 billion across the city and state economies, including more than $51 billion in direct spending by travellers (not adjusted for inflation).
This economic activity supported over 388,000 leisure and hospitality jobs — approximately 9% of the New York City workforce — and benefited thousands of small and minority-owned businesses across all five boroughs.
Visitor spending generated more than $6.8 billion in tax revenue, which helped save each New York City household around $2,000 in 2024.
In its final forecast for 2024, New York City Tourism + Conventions, reported that by the end of the year, the city will have welcomed 64.3 million travellers, reaching 97% of its record-setting 2019 visitation level of nearly 67 million.
New York City Mayor Eric Adams said: “With nearly 65 million visitors this year — the second highest figure in our city’s history — New York City has once again solidified its position as the premier destination in the nation and one of the top travel spots in the world.”
Mayor Adams continued: “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. Whether visiting for business or pleasure, the five boroughs have everything you need, from conference halls to theaters 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.”
Julie Coker, President and CEO of NYC Tourism + Conventions, observed that: “New York City’s tourism sector continues to thrive, reflecting the resilience and global appeal of our city. In 2024, we saw growth in both visitation and spending, reaching an estimated total direct spend of more than $51 billion across the city and state.”
Coker pointed out that: “This recovery supported over 388,000 leisure and hospitality jobs, and generated more than $6.8 billion in tax revenue, benefiting local businesses. As we look ahead to 2025, we expect this momentum to continue, further strengthening NYC’s role in driving the state and local economy.”
New York City’s tourism growth in 2024 was driven by strong domestic travel, particularly overnight stays, and an increase in European travellers. Despite this growth, challenges remain, including exchange rates, visa access and air travel capacity, which continue to impact business travel and long-haul international markets.
New York City’s tourism outlook remains positive heading into 2025, with modest growth expected and leisure travel forecast to exceed pre-pandemic levels. New York remains the most visited city in the United States and a top destination for international markets and major events.
Go to www.nyctourism.com for more.
PHOTO Credit – New York City – Lower Manhattan – photo by Victor Llorente
