Tourism boom in New York


Start spreading the news. In 2017 63 million vacationers visited New York in 2017 and forecasts indicate that in 2018 will continue the trend of growth in the number of tourists visiting the city annually.

According to the Center for an Urban Future (CUF), a city organization, over the past two decades, tourism to New York City has swelled from 33 million to nearly 63 million annual visitors, with powerful ripples throughout the city’s economy.

Tourism has risen to become one of the top four employment drivers in the city. The CUF analysis disclosed that are nearly a million more jobs across the five boroughs today than in 1997, and the city’s unemployment rate now stands at less than half of what it was then.

For those experts in the New York economy this economic transformation was fueled by a number of factors, including the plunging crime rate and the tech sector’s meteoric rise. But they estimate that few things have been more important to the city’s extended economic boom—or more overlooked—than the record increase in tourists.

These days, the city routinely tops 60 million annual visitors. “It has sparked hundreds of thousands of new jobs—not just at hotels, but in restaurants, retail shops, museums, airports, tour bus companies, and even travel tech start-ups. In the process, tourism has been elevated from a fairly important part of the city’s economy to one of the four leading drivers of job creation in New York. Indeed, tourism now accounts for about as many jobs as the city’s tech sector, the creative economy, or the finance industry”, the report highlighted.

The city is now home to nearly as many accommodations jobs, which pay $62,000 per year on average, as jobs in manufacturing, which pay an average of $58,000. A social data of interest in the report is that more than 65 percent of New York City residents who work in tourism-related industries are people of color and 54 percent are immigrants, compared to 59 percent and 44 percent, respectively, of workers in other sectors.

Tourism has also been responsible for a significant portion of the job creation in many of the city’s fastest-growing industries, including restaurants and bars (which added 142,000 jobs since 2000), retail (which had a net gain of 71,000 jobs), and arts, entertainment, and recreation (which grew by 30,000 jobs). New York continues to offer international tourists attractions such as Broadway shows, the Statue of Liberty, Empire State Building, Brooklyn Bridge, Central Park, historic neighborhoods, and numerous world famous museums.

New additions in recent years, like the High Line and One World Observatory, offer unique perspectives of the city. The New York authorities assure that the city is the safest large metropolis of the US, with a crime rate per inhabitant even lower than the national average.

However they warn about some rough neighborhoods which are unadvised for tourists. If you want to spend a vacation in the city, a good tip is to consult the local SafeAround service that has compiled information from numerous sources make sure you have a safe trip while in NYC and be aware of all potential dangers.

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