New York City anticipates 2 million fewer foreign tourists this year, potentially costing the economy an estimated $4 billion in 2025. International visitors, who constitute only 20% of total visitors, contribute around 50% of spending, highlighting their significance. Businesses catering to tourists report a decline in revenue, attributing the downturn to shifts in U.S. foreign policy and tariffs, particularly with Canada. Tour operators are experiencing significant revenue losses, prompting shifts in business strategies to mitigate the impact.
Although international visitors make up 20% of total visitation, they account for approximately 50% of all visitor spending, making them essential to New York City's economy. Combined, this downward revision represents an estimated loss of over $4 billion in direct spending.
There is an absolute real-world decline in tourism and revenue due to Trump's tariffs, and aggressive posting towards our friendly northern neighbors. I am now 'belt tightening' and seeking to take on 'luxury' clientele to make up for losses.
Collection
[
|
...
]