Today marked the release of the first comprehensive overview of New York City’s tourism industry, and the findings were extremely encouraging. Written and distributed by NYC & Company, a public and privately funded marketing and tourism entity, the report, titled, “New York City Tourism: A Model for Success,” looked at the tourism industry’s growth since the establishment of NYC & Company in 2006. Since that year, the City has hosted 52 million visitors and made $55.3 billion from tourism. Moreover, the high demand and increased revenue bumped job growth up 27% in the leisure and tourism markets. Remarkably, the growth of tourism and its many associated industries between 2006 and 2013 has outpaced all other NYC industries.
NYC & Company Chairman, Emily Rafferty, is very direct about the source of the NYC tourism industry’s growth—business boomed when NYC & Company created highly detailed business plans and marketing strategies that targeted untapped markets of international visitors, in particular, and promoted tourism within all of New York City’s neighborhoods rather than a select few. The strategizing hasn’t stopped yet. Rafferty is calling for continued support from the city’s public officials and business professionals to reach a new economic goal for NYC tourism by 2015: 55 million visitors and $77 billion in revenue.
The recent report will likely prove to be as trend-setting and inspiring as its source, NYC & Company. The company’s hybridization of tourism and marketing with public and private support has proven enormously successful. In fact, the collaborative and innovative entity has become “a model for success” itself. Municipals and corporations have looked to NYC & Company as an example of the successful pairing of civic resources and business strategies. MBA students and graduates in NYC have yet another reason to study and conduct business in the Big Apple. Industry growth continues and NYC will be a beacon for MBA students who are pursuing careers in tourism, marketing, technology, finance, and other industries bolstered by the New York City economy.
