New York City is a top global destination for visitors drawn to its museums, entertainment, restaurants and commerce. The City is also host to conventions, trade shows and major athletic events, which draw millions of visitors from across the nation and around the world and support the tourism sector. The sector includes components of the transportation; retail trade; arts, entertainment and recreation; restaurants and accommodation; and personal services sectors. The COVID-19 pandemic decimated the tourism sector, causing the number of visitors to the City to drop significantly. As a result, visitor spending dropped by nearly three-quarters, costing the City $1.2 billion in lost tax revenues in 2020.