FACT SHEET: NEW YORK CITY TOURISM GENERATES $74 BILLION IN ECONOMIC IMPACT FOR STATE AND CITY ECONOMY IN 2023 

New York City Tourism

Tourism Industry supports 380,000 jobs across the five boroughs and thousands of small and minority-owned businesses

New York City’s tourism industry continued to bolster the state and
city economy in 2023, generating $74 billion in economic impact with
more than $48 billion coming from direct spending (not adjusted for
inflation). This activity supported over 380,000 leisure and hospitality
jobs—roughly 9% of the City’s workforce—and thousands of small and
minority-owned businesses across all five boroughs. Tax revenue, which
totaled more than $6 billion generated by visitor spending, saved each
New York City household approximately $2,000 in 2023.
Today, New York City Tourism + Conventions, the official destination
marketing organization and convention and visitors bureau for the five
boroughs of New York City, also released its final 2023 forecast, with
The city attracted 61.8 million travelers in 2023, marking a recovery
of 93% of the City’s record 2019 visitation levels. 

“I’ve said it before and I’ll say it again: New York City is back!
And this year’s tourism numbers prove our economic recovery is coming
back stronger than ever,” said New York City Mayor Eric Adams. “New
York City’s tourism industry touches every corner of the five
boroughs—supporting small and minority-owned businesses and more than
380,000 local jobs. We’re grateful to every single one of the 62
million visitors who brought in more than $74 billion in economic
activity to our city this past year, and look forward to welcoming even
more visitors next year.”

“Throughout 2023, New York City saw a continued return to pre-pandemic
travel patterns reaffirming the industry’s place as a driver for the
City’s economy with $74 billion in economic impact,” said New York
City Tourism + Conventions President and CEO Fred Dixon. “Our city is
as vibrant as ever. New attractions, cultural offerings, restaurants, a
welcoming arrivals experience, and more have helped NYC remain a top
destination for domestic and international travelers.”  

International and Domestic Travel 

•     Domestic travel will reach 51.1 million in 2023, a
7.9% year-over-year increase over 2022.  
•     International visitation, which accounts for nearly
half of all visitor spending, will reach 10.8 million visitors in 2023,
marking a 14.9% year-over-year increase.  
•     As of December 2023, more overseas travelers hold
valid US visas than at any point in history. 
•     In 2023, New York City’s five largest international
markets will be the United Kingdom (974,000), Canada (864,000), France
(728,000), Brazil (589,000) and Germany (554,000). 
o     Canada will reclaim its place as the second-largest
international market.  
o     Western European markets regain their position as core
markets for international travel to the City.  
o     Economic conditions in South America remain mixed,
however Brazil, Colombia, and Argentina remain important feeder markets.
o     Asia-Pacific markets are returning at a slower pace due
to distance, economic, and access concerns.
•     The Chinese market is beginning to return as flight
capacity increases; China was New York City’s second-largest overseas
market in 2019.  

Business and Leisure Travel 

•     Business travel accounts for approximately 20 percent
of all visitation to New York City annually; it was the hardest hit
sector in the pandemic and continues to recover at a slower pace.
•     In 2023, business travel is expected to increase to
11.8 million, growing by nearly 3 million visitors. 

Tourism Infrastructure  

•     New York City remains the largest point of entry to
the US. It operates the world’s busiest airport system, with more than
2,900 weekly flight arrivals across John F. Kennedy International
Airport (JFK), Newark Liberty International Airport (EWR),
•     LaGuardia Airport (LGA) and Stewart International
Airport (SWF). More flights arrive through New York City airports than
any other destination in the United States.
•     Air traffic at LGA, JFK, and EWR airports now exceeds
pre-pandemic levels. 
•     More than $20 billion in investments are being made
across JFK, EWR, and LGA airports to improve the traveler experience;
o     LGA is undergoing an $8 billion transformation to a
single, structurally unified main terminal with better transportation
access and first-class passenger amenities—the first complete rebuild
of a US airport in over 25 years. All remaining construction is slated
for completion in 2024.
o     The Port Authority of New York and New Jersey, in
collaboration with American Airlines and Unibail-Rodamco-Westfield
Airports, is launching a $125 million commercial redevelopment
initiative for Terminal 8 at JFK.
o     This project will introduce more than 60 new shopping
and dining options, emphasizing local and diverse businesses, following
a $400 million terminal expansion.  
•     On January 12, 2023, EWR debuted the updated $2.7
billion Terminal A, offering 33 new gates serving Air Canada, American
Airlines, JetBlue and United Airlines customers, directly connected to
a multilevel parking facility.
o     EWR is also working toward a new 2.5-mile elevated
guideway train system to reduce greenhouse-gas emissions and ease
traffic congestion. 
•     The New York City subway system continued to rebound
reaching a record 2.9 million paid rides on Saturday, December 9,
representing the highest weekend day for ridership in four years. 

Hotels
  
•     Hotel performance remained strong in 2023, with an
estimated 36.5 million room nights sold, approximately 8% below 2019
record levels.
•     New York City is again among the top three US markets
and was the highest-performing hotel city in the US in the fourth
quarter of 2023. 
•     The demand for hotels remained strong and was
supported by a steady increase in midweek business travel. 
•     More than 70 new hotels creating more than 10,000
hotel rooms will be added to the City’s inventory in the next three
years across the five boroughs.
•     Active or available hotel room inventory citywide
continues to vary as hotels adjust to new marketplace conditions. As of
December 2023, roughly 121,464 rooms were in active inventory.  

Additional Insights 

•     The arts and culture sector continued to see the
opening of new venues and exhibits. Employment in the arts and culture
sector grew by 7% year over year to approximately 84,800 jobs.
•     The 2022–2023 Broadway season saw 12.3 million
admissions, 16.8% shy of the record-breaking 2018–2019 season
pre-Covid (the last complete season before the shutdown). 
•     Broadway attendance was up 6% from 2022, while total
grosses increased by 9% to $11 million.
  
Looking ahead 

•     America 250: In 2026, the US will celebrate 250 years
since its founding. New York City will commemorate its status as the
nation’s first capital, the birthplace of the American government, and
the place where the Bill of Rights was written. 
•     FIFA 2026 World Cup: FIFA has announced New York/New
Jersey as a host city for the 2026 World Cup. Additional details will be
announced in the coming weeks, including which games will be held in the
area. 

New York City is currently on track to welcome 64.5 million visitors in
2024. 

Sources: The Broadway League, MTA, New York City Tourism + Conventions,
Port Authority of New York and New Jersey, Tourism Economics, STR Data,
U.S. Department of Commerce, U.S. Department of State 

About New York City Tourism + Conventions: 
New York City Tourism + Conventions is the official destination
marketing organization and convention and visitors bureau for the City
of New York, dedicated to maximizing travel and tourism opportunities
throughout the five boroughs, building economic prosperity and spreading
the positive image of New York City worldwide. For all there is to do
and see in New York City, visit nyctourism.com.   

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