$450 million dollars in funding for boosting New York tourism industry

Wednesday, November 10, 2021

New York Governor Kathy Hochul, on the first day of fully vaccinated foreign tourists being permitted to travel to the U.S. , pledged to help the state’s tourism industry by providing nearly half a billion dollars in grants.

In an event held at New York City’s Museum of Natural History attended by business and union leaders, Hochulsaid that the economic future of New York City and the State are related to the tourism industry.

Hochulsaid, “The only way we are going to say that New York is truly back, is when the tourism industry is back as well. I believe they are interconnected.”

Broadway shows have reopened and sporting events are back in the city for fully vaccinated patrons.

However,Hochulsaidthat the tourism industry, with its hundreds of thousands of related jobs, is still far behind its pre-pandemic levels. As per a report from the State Comptroller, the tourism industry lost $60 billion dollars due to COVID-19. The Natural History Museum’s attendance and revenue declined by 40% since Covid related shutdowns started in March of 2020. Hotel occupancy declined 25% statewide, with 30% in New York City.

Hochulsaid, “The hotels are not back, our tourism related businesses like charter buses that used to transport people from the City across the state to Niagara Falls they’re not back. There are so many jobs that are still not back yet. And we cannot be blind to this any longer.”

Hochulsaid that the $450 million dollars in funding will include $100 million dollars in incentives for restaurants, hotels and tour guide companies to hire back workers in a quick way. Employers sustaining workers on for six months would receive a $5000 bonus. Another $100 million will be in the form of direct payments to 36,000 affected workers.

$25 million dollars funding would be for a marketing campaign for bringing back conventions to New York and another $25 million would expand the “I love New York” tourism campaign targeting select foreign countries to attract even more tourists.

An added incentive for visitors is that New York City, once the world’s epicenter of the pandemic, has a current infection rate of less than 1%.

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