February 4, 2023 – Jeff Citron, Co-Managing Partner and Chair of the Real Estate Law practice, was featured in New York Business Journal for their story “New York City Tourism to Return to Near Pre-Pandemic Levels This Year” to discuss how Manhattan tourism is driving the economic rebound of New York after the COVID-19 pandemic.
Highly seasoned in economic development, Citron is adept at representing clients in the hospitality industry. According to his observations, the recent growth in tourism and business travel are having a positive impact particularly on businesses in Manhattan.
While tourism is driving increases in shopping and entertainment, Citron believes that the greatest impacts for New York City’s recovery are coming from the business travelers returning to Manhattan, leading to an uptick in demand for offerings such as grab-and-go food, parking and other essentials that trickle down into every aspect of day-to-day business.
The article pointed out that in 2019, there were 66.6 million total visitors in New York City. In 2023, the city is expected to welcome 61.7 visitors. Tourism is forecasted to surpass 2019 levels by 2024.
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