Op-Ed: Cashing in on tourism
As reported by the Queens Courier:
By State Senator Jose Peralta:
While New York struggles to recover from the recession of 2008, it is clear that at least one of its major industries is thriving like never before–New York City tourism.
In 2012, the city welcomed a record-breaking 52 million visitors, despite the devastation wrought by Sandy. According to Mayor Michael Bloomberg, these tourists, who paid for a total of 29 million hotel room nights, poured more than $55 billion into the city’s economy.
What’s more, the city’s hotel occupancy stands at 87 percent, the highest in the nation. Better yet, there is good reason to believe that tourism remains a growing industry, with much of its potential still untapped, particularly outside of Manhattan. In the past six years, 72 new hotels have been built in boroughs other than Manhattan and a record-high percentage of non-Manhattan hotels are under development for the next four years.
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