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Tourism is now the fastest growing industry in terms of overall employment in New York City. Employment has grown 25 percent since 2006 with 356,000 New Yorkers directly employed by the tourism industry.
These are the findings of a report on the New York City accommodation industry by New York City Labor Market Information Service, part of the CUNY Graduate Center.
New York City hotel employees are reported to receive higher-than-average salaries with little risk of job loss and low turnover rates. This is due to the prevalence of unions throughout the industry, especially common in full-service hotels and in Manhattan.
With an average pay of $53,045, hotel employees make more than the citywide median of $45,540 and with little reason to leave, the workforce is quickly aging.
New hands on deck
A fresh batch of accommodation workers will be needed in coming years. Hotel growth is expected to expand 10 percent by 2014 after increasing 39 percent between 2006 and 2011.
One of the biggest barriers to tourism growth in developing countries is a lack of educated professionals in the tourism industry. New York knows no such constraints. There are a number of top management schools, educational programs, and nonprofit training opportunities in every borough.
The hotel industry and the New York’s reputation as a top tourist destination exist in a symbiotic relationship with an impressive number and variety of hotels available to serve visitors and a thriving tourism ecosystem feeding the market.
The complete report on the New York City accommodations industry is below: