New York’s tourism sector is approaching a complete recovery as visitor spending and related tax revenue have surpassed pre-pandemic levels, according to a report from New York State Comptroller Thomas P. DiNapoli. The city estimates it will exceed pre-pandemic levels and welcome a record 68 million visitors by 2025.
“The number of tourists is nearly back to pre-pandemic numbers in New York City,” DiNapoli said. “Visitor spending and the tax revenue this industry generates already exceed pre-pandemic levels, but the industry’s recovery won’t be complete until we see a full return of international and business travelers, and a full recovery of local jobs. 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.”
In 2023, 62.2 million people visited New York City, about 7% fewer than the 66.6 million who visited in 2019. Though fewer, these visitors spent over $48 billion in 2023, up 1.3% over 2019, as prices have risen over that time, including average daily hotel room rates, which exceeded $300. The uptick is projected to generate a record $4.9 billion in sales and other tourism-related tax revenue for the city in fiscal year (FY) 2024, a 16% jump since FY 2020. This is significant for the city, as the tourism sector’s record $53.8 billion in economic impact in 2022 accounted for 4.5% of the city’s gross product that year.
Domestic travelers, especially those making leisure trips, have led the city’s tourism sector recovery. The 50.6 million U.S. visitors to the Big Apple in 2023 were 7% more than in 2022, equivalent to 95.3% of those who visited in 2019.
International travelers make up about 20% of the city’s visitors, but their return has been slower. In 2020, at the height of the pandemic amid travel restrictions, their numbers fell 82.2% to just 2.4 million. Their numbers grew to 11.6 million in 2023, an increase of 23.4% over the previous year, but down 14.1% from 2019.
New York city led other major U.S. tourist destinations with over 33 million overnight visitors in 2023 driven by domestic travelers. Las Vegas and Los Angeles followed with over 26 million and 21 million overnight visitors respectively. Tourism in New York city is not expected to slow down with over 39 million overnight visitors projected in 2025, compared to Las Vegas and Los Angeles at just over 29 million and 25 million, respectively. Overnight domestic visitors to the city are expected to increase by 12.9 percent from 2023 to 2025, the strongest growth among other major U.S. tourist destinations.
DiNapoli’s report notes that major upcoming events, including the 2026 FIFA World Cup Final, New York City’s 400th Birthday, and the 250th anniversary of the nation’s founding are expected to draw record crowds in the coming years.
Source: Office of the New York State Controller