New York City Tourism Approaches Full Recovery with $79B Economic Boost in 2024
In 2024, New York City’s tourism industry showcased an impressive rebound, contributing an estimated $79 billion to the city and state economies. This includes over $51 billion in direct spending by tourists. The city is set to greet 64.3 million visitors by the end of the year, achieving 97% of its record-breaking 2019 pre-pandemic levels of nearly 67 million visitors.
NYC Tourism + Conventions reported robust performance in the city’s hotel sector across all five boroughs. Over 700 hotels sold 34.1 million room nights through November, marking a 4.1% increase year-over-year. The average daily rate climbed to $303, a 4.9% rise from 2023, while hotel occupancy held steady at 83.9%. New York City continues to lead in hotel metrics among the 25 largest U.S. markets.
The resurgence in tourism supported over 388,000 leisure and hospitality jobs, accounting for approximately 9% of the NYC workforce. Visitor spending generated more than $6.8 billion in tax revenue, saving each New York City household around $2,000 in 2024. Business travel is projected to grow to 12.5 million visitors in 2024 and return to pre-pandemic levels by 2026.
Source: NYC Tourism + Conventions