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Do you want to pay higher property, income, sales taxes?
Without tourism revenue, the city will have to make YOU pay higher taxes. So yes, tourism does put money in your pocket except you just don't realize it.
Or the city could but back spending if tourism goes down and cut spending. Tourism revenue, like other revenues goes through good years and bad years.
That is something the city should do regardless. No need to wait for when revenue drops.
Of course the liberal democrats that rule this town don't believe in that. They love to tax and spend.
They may get hit with federal funding cuts, so they may have no choice but to cut spending. And if that's on top of a declining in tourism revenue, OUCH!
If the dollar was not so strong nor historically so strong, then there also be nothing in NYC for people to come and see. And that will hurt NYC tourism even more.
Also strong dollar allows hospitality companies more purchasing power. So they save money on that.
Also if you rich you can afford it. If you want to attract poorer tourists you can just set your price accordingly with the exchange rate in mind.
Do you want to pay higher property, income, sales taxes?
Without tourism revenue, the city will have to make YOU pay higher taxes. So yes, tourism does put money in your pocket except you just don't realize it.
Yet, all the middle class is still complaining about how taxes are killing them.
Tourism revenue goes to those who cater to tourists. The evidence that the increase in their tax payments as a result of their extra tourist sales goes into the public coffers is miniscule to absent.
The corporations that benefit from tourism very likely pay little or NO taxes.
If the dollar was not so strong nor historically so strong, then there also be nothing in NYC for people to come and see. And that will hurt NYC tourism even more.
Also strong dollar allows hospitality companies more purchasing power. So they save money on that.
Also if you rich you can afford it. If you want to attract poorer tourists you can just set your price accordingly with the exchange rate in mind.
It's not about attracting tourists per say, it's just that when prices are so low because of dollar exchange rates that NYC cannot help but lost money because people will want to go to those other cities to SHOP cheaply, and of course who doesn't like to save while they spend? That is just a natural part of the business cycle as it relates to currencies. Whenever the dollar goes down NYC gets CHEAPER, and is more attractive to people who might have gone to London or Paris.
It's still crowded as hell, far as a I can tell...
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