Tourism industry is set to exceed 100 billion for New York

first_imgTourism industry is set to exceed $100 billion for New YorkGovernor Andrew M. Cuomo has announced the total economic impact of New York State’s tourism industry in 2014 reached an all-time high of $100.1 billion.Historic investments in the tourism industry have generated job growth and an increase in visitors to New York, making it the most visited state by overseas travelers for the 14th year in a row.The Governor also highlighted the 2015 summer ad campaign featuring vacation destinations and attractions from all regions of the state.‎“A stronger tourism industry in New York means more jobs and more economic activity in local communities. That’s why growing this critically important industry has been a top priority of this administration – an effort that, as this new data demonstrates, has been effective,” Governor Cuomo said.As the Fourth of July weekend kicks-off this summer season, the Governor’s summer tourism ad campaign invites residents and visitors to celebrate the state’s history and experience the unmatched destinations, attractions, events, landmarks, and cultural opportunities New York State has to offer.Tourism Economics conducted an economic impact report using Impact Analysis for Planning (IMPLAN) software, with the results as follows.Direct impact: $62.46 billion Includes immediate benefit for persons and companies directly providing goods or services to travelers.Indirect impact: $18.52 billionThe secondary benefit to suppliers of goods and services, for example, food wholesalers that provide goods to a New York restaurant.Impact to local economy: $19.18 billion The benefit to New York’s economy from the incomes derived at the direct and indirect levels of impact is spent on goods and services. For example, the restaurant’s employees spend their wages at a local grocery store.For the 14th consecutive year, New York was the most visited state by overseas travelers in 2014, according to the U.S. Department of Commerce’s National Travel & Tourism Office.  A total of 9.98 million overseas visitors came to the Empire State last year, accounting for 29% of all overseas travelers in the United States.  Florida remained #2 and California was ranked #3 among states in overseas visitation.Governor Cuomo’s commitment to tourism continues throughout every region of the state and Market NY Grants are currently available through Round V of Governor Cuomo’s Regional Economic Development Council initiative of up to $12 million. Visit I Love New York here! Source = New York Statelast_img

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