How much does tourism bring to NYC?

Travel & tourism is a substantial and growing component of the New York State economy. Direct spending of $64.8 billion generated nearly $105 billion in total business sales including indirect and induced impacts. Over 780,000 jobs were sustained by tourism activity in 2016 with total income of $34.6 billion.

How much of New York economy is tourism?

Tourism accounts for 7.2 percent of total private sector employment and 4.5 percent of private sector wages. Tourism indirectly supported 376,800 jobs in 2019. In 2019, leisure travelers accounted for 80 percent of visitors, while domestic travelers also made up 80 percent of visitors to New York City.

What is the main source of income in New York?

Finance, high technology, real estate, insurance, and health care all form the basis of New York City’s economy. The city is also the nation’s most important center for mass media, journalism, and publishing. Also, it is the country’s preeminent arts center.

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How is tourism funded in New York State?

New York State understands the value of tourism and has committed millions of dollars to promoting tourism businesses throughout the state with robust marketing efforts that include paid advertising, social media, earned media, tourism trade sales work and live event activations.

How important is tourism to New York City?

Tourism is historically a driver of economic prosperity for New York City. In 2019, for instance, the 66.6 million visitors to the City spent over $47.4 billion on hotels, restaurants, shops and cultural institutions across the five boroughs.

How does tourism affect NYC?

Besides providing direct benefits to local businesses, tourism has helped to maintain the city’s export base, which has suffered from declines in manufacturing. Tourism contributed to employment, earnings, and retail sales in New York City.

How many tourists visited New York in 2020?

Tourism has taken a huge hit during the pandemic this year — NYC & Co. estimated the city will see 22.9 million visitors for 2020, about a third of last year’s figures.

How many tourists does New York get a year?

In 2018, New York City welcomed 65.1 million visitors, an all-time high. International visitors comprised 13.6 million of the total, but their economic importance to the City outweighs their numbers because they stay longer and spend more money than domestic visitors.

How many tourists visit NYC daily?

The daytime population consists of approximately 1.61 million commuting workers, 1.46 million local residents, 404,000 out-of-town visitors, 374,000 local day – trip visitors, 17,000 hospital patients, and 70,000 commuting students.

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Is New York a poor state?

New York’s real per capita personal income was $53,700; the state’s 3-year poverty rate average was found to be 11.8 percent; per capita state spending in 2017 was $7,910; per capita personal consumption expenditures in 2018 were $52,701 and state revenue per capita was $14,499.

What is the most common job in New York?

The most popular job is the home health and personal care aides profession, which employs 469,370 people (5.40 percent of the total employment in New York ). The second most common job is the retail salesperson profession which employs 219,620 people (2.53 percent of the total employment ).

What is the biggest industry in New York?

In short, the leading industries in New York are not just driving the state’s economy; they are leading the charge on a national and global scale.

  • Financial Services.
  • Health Care.
  • Professional and Technical Services.
  • Retail Trade.
  • Manufacturing.
  • Educational Services.
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