This was driven by employment in scheduled air passenger transportation (67.2 percent of total; see Figure 7). The majority of the City’s tourism jobs (57.6 percent) are situated in Manhattan. The Chelsea, Clinton & Midtown area has essentially the most jobs associated to tourism, exceeding 81,000, or 7.eight % of all employment within the neighborhood.
In 2020, the Paycheck Protection Program granted loans to forty two,800 City companies in tourism-related industries, for a total worth of $3.four billion. These businesses accounted for 27 percent of PPP loans within the City, and 18.3 p.c of mortgage dollars disbursed. Given the forecast that between 10 percent and 25 % of closed hotel rooms will stay permanently shut, the general provide of rooms available for vacationers is predicted to decline by about 19 percent , although not for long. According to Lodging Econometrics, a hundred and fifty resorts are within the new construction pipeline, with 108 motels presently beneath development.
It is in all probability going that shorter business trips could stay suppressed following the pandemic. Vacationing South Koreans, with few foreigners in sight, pack the buffet strains at fancy motels. Lumbini, the birthplace of the divine Gautam Buddha attracts scores of Nepalis every year.
