{"id":110945,"date":"2021-06-21T13:29:53","date_gmt":"2021-06-21T11:29:53","guid":{"rendered":"https:\/\/www.voyages-d-affaires.com\/?p=110945"},"modified":"2022-07-29T09:25:46","modified_gmt":"2022-07-29T07:25:46","slug":"new-york-fragile-economy","status":"publish","type":"post","link":"https:\/\/www.voyages-d-affaires.com\/en\/new-york-fragile-economy","title":{"rendered":"New York's international status undermines its economic recovery"},"content":{"rendered":"<div class=\"vapo-snippet automatic\">\n<p><strong>New York<\/strong> is suffering more from the pandemic crisis than any other city in the United States. This is the conclusion of an in-depth investigation by the New York Times, published on 21 June. According to the figures released by the daily, <strong>New York lost 11.8% of jobs between February 2020 and April 2021<\/strong>. To compare <strong>to a US average of 4.4%<\/strong>. The city is well ahead of Los Angeles (-10.5%), <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/san-francisco-soma-silicon-valley-20171016.html\/\" target=\"_blank\" rel=\"noopener\">San Francisco<\/a> (-10,3%), <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/boston-lavenir-dune-tradition-20160701.html\/\" target=\"_blank\" rel=\"noopener\">Boston<\/a> (-9.9%) and Chicago (-6.7%).<\/p>\n<h3><span style=\"color: #a71f31\">Disappearance of the white-collar windfall<\/span><\/h3>\n<p>Journalists who have investigated in the city believe that<strong> New York's heavy reliance on travel for work and leisure...<\/strong><\/p>\n<\/div>\n<div class=\"vapo-content\" style=\"display:none\"><p><strong>New York<\/strong> is suffering more from the pandemic crisis than any other city in the United States. This is the conclusion of an in-depth investigation by the New York Times, published on 21 June. According to the figures released by the daily, <strong>New York lost 11.8% of jobs between February 2020 and April 2021<\/strong>. To compare <strong>to a US average of 4.4%<\/strong>. The city is well ahead of Los Angeles (-10.5%), <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/san-francisco-soma-silicon-valley-20171016.html\/\" target=\"_blank\" rel=\"noopener\">San Francisco<\/a> (-10,3%), <a href=\"https:\/\/www.voyages-d-affaires.com\/en\/boston-lavenir-dune-tradition-20160701.html\/\" target=\"_blank\" rel=\"noopener\">Boston<\/a> (-9.9%) and Chicago (-6.7%).<\/p>\n<h3><span style=\"color: #a71f31\">Disappearance of the white-collar windfall<\/span><\/h3>\n<p>Journalists who have investigated in the city believe that<strong> New York's heavy reliance on travel for work and tourism is currently hampering its economic recovery<\/strong>. They estimate that thousands of jobs in restaurants, bars, shops and high street outlets are in fact linked to the presence of a million commuters working in Manhattan every day.<\/p>\n    <style>\n        div.link-block {\n            margin: 1em;\n            margin-left: 2px;\n            font-weight: bold;\n            padding: 1em;\n            position: relative;\n            border-top: 1px solid #cecece;\n            border-bottom: 1px solid #cecece;\n            font-size: 1.15rem;\n        } \n        div.link-block::before {\n            display: block;\n            content: '';\n            position: absolute;\n            top: 0.5em;\n            bottom: 0.5em;\n            left: -2px;\n            background-color: #a91c2c;\n            border-radius: 2.5px;\n            width: 5px;\n        }\n        div.link-block > a {\n            text-decoration: none;\n            border-bottom: none;\n            color: black;\n            font-family: 'Roboto', Arial, sans-serif;\n        }\n        div.link-block > a:hover {\n            text-decoration: underline;\n            border-bottom: none;\n            color: black;\n        }\n        @media only screen and (max-width: 600px) {\n            div.link-block {\n                padding: 0.7em;\n            }\n        }\n    <\/style>\n    <div class=\"link-block\"><a href=\"https:\/\/www.voyages-d-affaires.com\/en\/new-york-green-city-planetary-issues\">Read also: Ecology: the new urban jungle<\/a><\/div>\n<p>According to <strong>\"Partnership for New York City<\/strong>an economic development group, <strong>only 12% of employees were back in Manhattan at the end of May<\/strong>. The figure should reach 29% by the end of July with the normalisation of the daily newspaper. However, Partnership for New York City expects that<strong> only 62% of office workers were in attendance at the end of September<\/strong>. And even then, 71% of companies would only bring their staff in three times a week.<\/p>\n<p>A situation that puts hundreds of businesses at risk. The figure of 62% means that 300,000 consumers in the city will disappear. The authorities estimate that almost half the SMEs in the catering and tourism sectors have already disappeared.<\/p>\n<p>The same applies to <strong>tourist bonanza that was Manhattan<\/strong>. According to NYC &amp; Company, <strong>New York attracted 66.6 million visitors in 2019<\/strong>. <strong>The number of international visitors was 13.5 million, slightly down on 2018<\/strong>. The UK, France and Germany were the top three European issuing markets.<\/p>\n<h3><span style=\"color: #a71f31\">International tourism in disarray<\/span><\/h3>\n<p><strong>Business travel accounted for 20% of all arrivals in 2019 <\/strong>- or 13.6 million travellers. Tourism generated more than $47 billion in direct expenditure, including $23.1 billion from international markets.<\/p>\n<p>Unsurprisingly, the importance of tourism fell sharply in 2020. Last year, <strong><a href=\"https:\/\/www.voyages-d-affaires.com\/en\/new-york-perpetuelle-metamorphose-20180704.html\/\" target=\"_blank\" rel=\"noopener\">New York<\/a> welcomed just 22.3 million passengers, down 67%<\/strong>. The fall is even more brutal for international tourism. <strong>The 2.4 million international visitors - mainly concentrated in January and February - represented a decline of more than 82.2%<\/strong>. Once again, this decline is affecting the entire travel sector - from airlines and hotels to taxis and restaurants.<\/p>\n<p>NYC &amp; Company is relatively unoptimistic about a rapid international recovery. According to its projections, <strong>total arrivals are expected to reach 36.4 million this year - including only 4.6 million international arrivals<\/strong>. New York would return to a level of arrivals similar to 2019 only in <strong>2023<\/strong>.<\/p>\n<p>However, there are a number of reasons for this, <strong>the recovery will be even slower for international tourisma<\/strong>l. This would only return to its 2019 level between 2024 and 2025. In 2022, it would reach 8.3 million visitors and 11.2 million in 2023.<\/p>\n<p>The same slow growth is seen in business travel. It fell to 3.3 million visitors in 2020 - a market share of 14.8% of all arrivals. According to NYC &amp; Company, it is unlikely to return to its 2019 level before 2025.<\/p>\n<p>The slow return of international visitors and business travel could continue to plague the economic future of the American megalopolis for a long time to come.<\/p>\n<p>Unless <strong>Joe Biden finally opens his borders<\/strong>particularly for European travellers. <strong>In March, the US President spoke of the possibility of reopening the borders in May.<\/strong>. Since then, the Biden administration has been deafeningly silent. <strong>Pressure mounts within the hotel and airline lobbies<\/strong> for, at the very least, the publication of a roadmap for an international reopening. With a possible loosening of the noose in September...<\/p>\n<\/div>\n<div class=\"vapo-widget\"><\/div>","protected":false},"excerpt":{"rendered":"<p>While New York's status as a global metropolis has always favoured it, its international exposure has slowed the city's economic recovery in the post-pandemic period. This is due to the absence of international tourists... and to teleworking.\u00a0<\/p>","protected":false},"author":21,"featured_media":110965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[89],"tags":[121,1031,2087],"type-darticle":[],"n_magazine":[],"class_list":["post-110945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-villes-d-affaires","tag-etats-unis","tag-new-york","tag-covid-19","vapo-premium"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Le retour du tourisme international indispensable \u00e0 New York<\/title>\n<meta name=\"description\" content=\"L&#039;\u00e9conomie new-yorkaise pourrait \u00eatre longtemps en difficult\u00e9 si les fronti\u00e8res am\u00e9ricaines restent ferm\u00e9es. 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