Vacation Destinations: NYC

5 Facts about New York City

• Currently, 8.3M people live in NYC and its boroughs.¹ Since 2020, the city has lost 5.3% of its population,¹ and for the first time ever, it ranks as the most expensive city in the world, sharing the top spot with Singapore². Its new ranking is partly due to the soaring rent prices, which increased 22% in 2022³. The average monthly rent is $5,000.³ 
• NYC is the second most visited city in the U.S. and the sixth most visited city in the world.⁴ In 2023, the city expects 61M tourists to visit the Big Apple.⁵ Tourism generated $72B in economic impact annually pre-pandemic and provided more than 400,000 local jobs.⁶ 
• With more than 800 languages spoken, New York City is considered the world’s most linguistically diverse city in the world.⁷ About 36% of its population is born in foreign countries including Mexico, Haiti, Dominican Republic, Jamaica, China, and Guyana, among other places.⁷ In fact, more Chinese people live in NYC than any other city outside of Asia, and more Jewish people live there than any other city outside of Israel.⁷
• Broadway is home to roughly 41 theaters that span the 13-mile thoroughfare from Manhattan through the Bronx and into Westchester County.⁸ It is one of the biggest concentrations of performing arts in the world, and every year Broadway draws a crowd of over 13M spectators, with the majority (63%) being tourists and women (66%).⁸ 
• The New York Public Library is the third largest library in the world.⁹ It has over 50 million books and other items and is the second largest library system in the nation after the Library of Congress.⁹ When it opened to the public in 1911 after 16 years under construction, it was the most prominent marble structure ever built in the U.S.⁹ More than 50,000 visitors came on opening day.⁹

¹ https://finance.yahoo.com/news/york-city-lost-5-3-100000482.html

²https://pages.eiu.com/rs/753-RIQ-438/images/worldwide-cost-of-living-2022-summary.pdf?mkt_tok=NzUzLVJJUS00MzgAAAGIbXg9BJNcFwgXewOganA4WTo9JeHDeoyUDht6oN_baHAL4ieHQYBS7QrakoDpyGFuQ4Rgam1vQQAN4l5r1m0qwtYXoRqY2NssihFpsgIlVxCFQQ

³ https://millersamuel.com/files/2022/07/Rental_06_2022.pdf?updated

⁴ https://www.thetravel.com/most-visited-cities-in-the-us/?newsletter_popup=1

⁵ https://www.thrillist.com/news/new-york/nyc-expects-61-million-tourists-2023

⁶https://www.nyc.gov/assets/home/downloads/pdf/office-of-the-mayor/2022/Mayor-Adams-Economic-Recovery-Blueprint.pdf

⁷https://www.thetravel.com/why-is-new-york-city-so-unique/#new-york-is-the-most-linguistically-diverse-city-in-the-world

⁸ https://loving-newyork.com/broadway-facts/

⁹ https://forwardkeys.com/the-most-popular-city-destinations-in-summer-2023/