NYC Tourism Down by 60% in 2020

New York City is finding themselves in a downward spiral for tourism, with an announcement being issued NYC Tourism Agency that activity has dropped by 60% in 2020. It’s the most prominent loss of tourist activity since the 9/11 terrorist attacks on the Twin Towers. Detailed reports indicate that 22 Million visited New York City in 2020, instead of the standard volume listed at 66 Million. It’s a notable decline that’s reasoned to the coronavirus pandemic. Subsequent to the drastic loss of tourists, profit margins for the NYC hospitality market has lowered to deteriorating volumes. An average of $44 Billion is acquired through tourist activity, with reports indicating that spending has dropped by 80% since the Covid-19 pandemic inflicted global tourism operations.

Records regarding financial statistics for New York City from the 9/11 attacks suggest that it’ll take four years or longer to recovered from Covid-19. Statistics of this nature are being used because that was the timeframe needed for New York to regain normal tourist volumes after the attacks. Similar results could ensure following the Covid-19 pandemic. The reasoning for that is because most tourists entering NYC in 2020 were from America, with international visitors dropping to 2.4 Million this year. It’s an 83% drop from 2019.

2025 Recovery Date

NYC Tourism Agency is reporting that by years end, there will be a maximum of 22 Million visitors to the region. Profits will have dropped substantially & aren’t expected to begin recovery until Summer 2021. That’s because travel restrictions throughout the United States will remain effective, especially when considering the change of leadership coming in January 2021. NYC Tourism Agency is suggesting that it’ll take anywhere between 2023 to 2025 for recovery operations to be completed.

One benefit of these statistics was learning that in America, New York City was still the most travelled location nationwide. It shows that NYC is still the country’s most popular entertainment destination in the Covid-Era, and afterwards.