NYC Tourist Volume Continues to Improve as Pre-Pandemic Gap Narrows

Tourist volume in New York City is forecast to reach 56.7 million in 2022 and 63.7 million in 2023 according to the NYC Travel & Tourism Outlook released in late June by the city’s official marketing organization and convention and visitors bureau NYC & Company. Although remaining below the 66.6 million visitors in 2019, the 2022 volume forecast represents a 154% increase over the 22.3 million people that visited the five boroughs in 2020. Although domestic tourist volume was resilient in 2021 and forecast to exceed pandemic levels by 2023, international visitor volume, which experienced the deepest declines from the pandemic, has bounced back in 2022 and forecast to triple the 2.7 million volume by 2023. Leisure travelers account for the majority of visitors and are forecast to reach a volume of 47.7 million, or 84% of total volume, in 2022; while business travel is forecast to reach 9.0 million, or 16% of total 2022 volume — remaining 20% below the traditionally leisure/business traveler split of 80%/20% respectively. Improving tourist volume has pushed year-to-date hotel occupancy to 64.3%, which is 21.9% below the 2019 benchmark, and the average daily rate (ADR) rose 3.5% to $248.42 compared to the 2019 benchmark.