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/