Mayor Michael R. Bloomberg and NYC & Company President & CEO Cristyne L. Nicholas today announced that at 35.3 million visitors – an increase of 0.3% – and a total economic impact of nearly $21 billion in 2002, New York City continued to show strength as an attractive visitor destination and important engine for New York City’s economy.  The City welcomed a record number of 30.2 million domestic visitors and remained the number-one U.S. destination for overseas travelers, according to information released today by NYC & Company, the City’s official tourism marketing organization. 

“The bottom line is that visiting New York is an experience unlike any other, and we’ve welcomed 35.3 million visitors in 2002 to prove it,” said Mayor Bloomberg. “With a 22% market share, we are still the number one choice for oversees travelers, the third year New York has held that distinction. What’s more, domestic visitors have increased 2.2% in 2002, setting a new record of 30.2 million guests.  Our numbers continue to improve but we’ve got to continue to do whatever we can to encourage visitors, both leisure and business travelers, to come to New York City and continue to make the Big Apple their number one travel destination.”

 “New York City tourism continues to be an important engine for New York City’s economy,” said Cristyne L. Nicholas, President & CEO of NYC & Company.   “Despite the challenges over the past two years, the City welcomed a record number of domestic, leisure and family visitors which speaks to the continued appeal of New York City as an attractive travel destination.” 

An economic powerhouse, New York City tourism contributes a total economic impact of $21 billion in visitor spending, down 7% from 2001 and 18% from the industry’s best year ($25 billion in 2000).  Visitor spending supported 226,100 jobs, $4.1 billion in direct payroll, and $3 billion in taxes – with $791 million going to New York City tax revenues.  The 2002 visitor volume and spending numbers reflect several important trends:

• New York City remained the top destination for overseas visitors with a 22% market share;
• Family travel to New York City set a new record with 4% increase to 10.7 million visitors; 
• Leisure travel overall increased by 3.2% (an increase of more than 1 million visitors) to a record 25.9 million on the strength of the domestic market and the return of the international leisure travelers in the last four months of the year;
• Business travel is weathering the recession and shows signs of recovery, especially in the last quarter of 2002;
• Visitors to New York City who site culture as their reason for coming here grew above 2000 levels to16.9 million, a sharp increase after the precipitous decline at the end of 2001.  Spending by cultural visitors accounted for $7.6 billion in 2002 despite hard economic times and drop in international visitors. 

 
 Domestic visitors to New York City increased 2.2% in 2002, setting a new record of 30.2 million.  The City reaped the benefits of traveler interest in drive-distance, getaway and cultural travel opportunities.  Orlando remains the number-one destination for domestic travelers, with New York City retaining its number-two position over Las Vegas.  

The development of dozens of new family-friendly attractions, hotels, stores and restaurants -- as well as the continued revitalization of key New York City neighborhoods – helped New York City break a new record in the total number of family travel visitors.  The City welcomed more than 10.7 million visitors in 2002 that were traveling as part of a family, up 4% over 2001.  Family travel is defined by parties with at least one child under the age of 18 years old. 

Leisure Travel Rising: New York City rose 3% on the strength of the domestic market, to the highest recorded level of 25.9 million visitors.  An important trend in leisure travel is the return of the international visitor in the last four months of 2002 totaling 3.4 million for the year.  Domestic leisure travelers accounted for 22.5 million.  Leisure spending accounts for $12 billion in direct expenditures in New York City. 

Business Travel Slowly Recovering: Challenges in the global economy contributed to the slow recovery of business travel. Business travel to New York City decreased for the second year running from 10.1 million to 9.4 million, a difference of -7%.  The majority of the decline occurred in the first 8 months of 2002, and then international and domestic business travel picked up significantly following the first anniversary of September 11th.   At 45%, less than half of business travelers in 2002 are day trippers, as compared to 53% in 2001.   

Overnight Visitors Increased: Overnight travel to New York City increased 11% in 2002, to a total of 14.1 million trips, which surpassed 2000 levels of 12.7 million.   Visitors are taking advantage of the great values available at New York City’s hotels and attractions, and found many reasons to spend the night.  Overnight stays by family groups are up to 50% of the market and by interstate business travel reached 90%. 

Outlook for International Travel is Mixed: New York City remained the number-one U.S. destination for overseas visitors, and commanded 22% of the overall market share for the third year even as international travel to U.S. fell by 12%.   New York City received nearly 5.1 million international visitors in 2002, a loss of 573,000 (a -10% decline) from 2001.  

Since 2000, New York City has experienced a 25% drop in international visitors, which has negatively affected the total economic impact of travel and tourism on the city.  While only 14% of the total visitor market, international travelers generally contribute about 40% of the total direct spending in the City.  New York City’s top origin markets continue to be the United Kingdom, Canada, Japan, Germany and France.  Together, they account for almost half (46%) of all international visitors to New York City.  International travel picked up significantly after the one-year anniversary of September 11th as visitor volume for the last four months of 2002 came much closer to the peak levels shown for the same period in 2000. 

NYC & Company’s 3rd Annual CultureFest

Mayor Michael R. Bloomberg, NYC & Company President & CEO Nicholas and The Merrill Lynch Foundation President Paul W. Critchlow also announced NYC & Company’s 3rd Annual CultureFest, which will take place in Lower Manhattan’s historic Battery Park on Saturday and Sunday, September 20th & 21st from 11:00 a.m. to 5:30 p.m.  Nearly 100 of New York City’s arts and cultural organizations will showcase their new exhibitions, programs, and performances for the coming year at this free weekend-long event presented by The Merrill Lynch Foundation. 
 
“CultureFest promises to be a truly spectacular weekend, and this year’s event is further proof that Lower Manhattan is coming back stronger than ever,” said Mayor Bloomberg. “Events like CultureFest are not only important for our cultural quality of life, they are also important to our City’s economy.  In 2002, New York City hosted 16.9 million cultural visitors, which accounts for 48% of all the City’s visitors that year. And our domestic cultural visitors are increasing faster than the domestic market as a whole, 10% as compared to 2%.  Events like CultureFest are an enormous boost to the City’s economy, and are a big attraction to visitors from around the globe.” 

“CultureFest represents what’s best about New York – it’s creative, fun, fast-paced, informative and free,” said NYC & Company’s Cristyne L. Nicholas. “During the past two years more than 110,000 people have attended this amazing event to celebrate the arts and the many diverse cultures that give New York its unique spirit - and to plan their cultural calendar for the year.  With a record number of performers and exhibitors, and a move to Lower Manhattan’s historic Battery Park, this year’s CultureFest promises to be the most exciting and colorful yet.”

“Merrill Lynch has a very strong commitment to Lower Manhattan and to cultural institutions throughout all five boroughs,” said Merrill Lynch’s Eddy Bayardelle. “We are delighted that by supporting kid-friendly CultureFest, Merrill Lynch is able to provide a unique opportunity for New Yorkers, visitors, and their families to sample the world’ finest cultural offerings from nearly 100 of New York City’s cultural organizations.”

About 100 cultural organizations will showcase their vast range of programs, exhibitions and performances to be featured during the coming year.  With unparalleled views of the Statue of Liberty and Ellis Island, CultureFest offers two stages with live performances and a park full of exhibits and interactive activities so adults and children alike can take in music and dance performances, face painting, puppet shows, arts and crafts. Throughout the park, visitors can view exhibits and video displays, enter ticket raffles, meet dancers, artists, museum representatives and actors and watch historic reenactments.  On Saturday there will be a special “Merrill Lynch Kids’ Dash” on the lawn for children ages 3 – 6 (advance registration is required).
  
Complete information is available at www.nycvisit.com/culturefest or stop by NYC’s Official Visitor Information Center at 810 Seventh Avenue at 53rd Street (212 484-1222), and at Visitor Information Kiosks at the southern tip of City Hall Park, and in Harlem in the State Office Building Plaza at 163 West 125th Street at Adam Clayton Powell Jr. Boulevard.