Hero Banner - NYC Tourism Industry Hit Hard by Pandemic
Visitor spending drops 73%, tourism-related tax revenues plunge $1.2 billion.
Visitor spending drops 73%, tourism-related tax revenues plunge $1.2 billion.
The COVID-19 pandemic abruptly halted tourism in New York City, one of the world’s top tourist and business traveler destinations, during parts of 2020, resulting in a dramatic falloff in the number of visitors and creating a steep drop in economic activity, according to a report released today by New York State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced the following school district audit was issued.
New York State Comptroller Thomas P. DiNapoli today announced the following local government audits were issued.
Collections down $173 million compared to same period last year.
Sales tax revenue for local governments in New York State declined by 3.9 percent in the first quarter compared to the same period last year, according to State Comptroller Thomas P. DiNapoli. Sales tax collections from January through March totaled $4.3 billion, which was $173 million less than the first quarter of 2020.
As unprecedented fires burned in the West and powerful storms flattened or flooded homes, businesses and vital infrastructure in every corner of the nation, 2020 painted a vivid picture of the potential for climate change to disrupt our lives.
As the State's Chief Financial Officer, Comptroller DiNapoli believes New Yorkers deserve to know how their tax dollars are spent. Without transparency in government, there cannot be accountability. His open data initiatives are a commitment to this belief.
Even as we grapple with the serious public health and economic challenges stemming from the Covid-19 pandemic, climate change continues to represent an urgent and growing threat.
The Climate Action Plan Progress Report for the New York State Common Retirement Fund highlights the Fund’s recent efforts to address climate risks and opportunities.