STATEMENT: NYC TOURISM + CONVENTIONS ON THE FY27 ADOPTED BUDGET

“We appreciate Mayor Mamdani, Speaker Menin, and the City Council for their continued support of New York City's tourism industry, including the Mayor's commitment to increase NYC Tourism + Conventions' baseline funding by $5 million in the preliminary budget despite facing a significant fiscal gap.

While we are disappointed that the adopted budget does not include the additional $11.9 million investment we requested to fully fund NYC Tourism + Conventions at $35 million annually, we recognize the difficult fiscal choices the City faced this year. Even with this year's $5 million baseline increase, our funding has been stagnant – increasing by just $2 million in 20 years despite rising costs, a global pandemic and increasing global competition for visitors, meetings, conventions and major events.

As we face another year with a flat budget, it will require us to make difficult decisions about where we focus our efforts at a time when competing destinations are significantly increasing their investments in tourism promotion.

Tourism remains one of New York City's most powerful economic engines, supporting nearly 400,000 jobs and generating billions in tax revenue each year. We will continue working with the Administration and City Council to make the case that sustained investment in destination marketing is an investment in jobs, small businesses and the City's long-term economic competitiveness.”