Tourism, Engine for N.Y.C. Economy, May Not Fully Recover Until 2025
Posted by: MockingbirdGirl03:46 pm EST 11/16/20
Tourism in New York City will need at least four years to recover from the free-fall triggered by the pandemic, according to a new forecast from the city’s tourism promotion agency, a somber assessment that reflects the major obstacles to the city’s economic recovery.
The return of international visitors, who stay longer and spend much more than domestic visitors, will be even slower, the agency forecasts. The number of foreign tourists in the city is not likely to return to its 2019 level before 2025, the forecast shows.
“It’s going to be a very slow build initially,” said Fred Dixon, the chief executive of the agency, NYC & Company... “Many look at Broadway as the dinner bell,” Mr. Dixon said. “As soon as that dinner bell rings, people are going to come far and wide.”