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Q&A
Budget constraints and new funding needs for NYC Tourism & Conventions
2:07:06
·
3 min
Council Member Amanda Farías discusses the importance of tracking outcomes and metrics in development projects. She then asks Julie Coker from NYC Tourism & Conventions about the impact of budget constraints and potential new funding needs for the organization.
- Farías emphasizes the importance of tracking actual outcomes and metrics in development projects.
- Coker explains the current budget situation, potential cuts to international offices, and the importance of international visitors to NYC's economy.
- The discussion highlights the need for increased funding to maintain NYC's competitive advantage in tourism.
Amanda Farías
2:07:06
Yeah.
2:07:06
I'd love to just keep in touch on that as I'll as I'm sure we still have EDC folks here that are logging and taking this information in.
2:07:14
I think it's important, especially for folks like new or for your organization that has, you know, hundreds of partners that can be on the ground, be infiltrated into a lot of these projects, and we're directly impacted by being hired Mhmm.
2:07:28
On some of the development projects that we have that can both assist you folks and the city be able to track its actual outcomes and metrics.
2:07:36
So appreciate that.
2:07:37
And then I just have a question around the last statement that you read, miss Coker, on the resources that will be needed without increased funds, what our global impact is going to look like, and what that means for the City Of New York.
2:07:55
Can you give us an idea of prospectively what could be new needs that the that NYCTC NYCTC has and what that means in terms of percentages or negative outcomes for the City Of New York if those aren't met?
Julie Coker
2:08:11
Sure.
2:08:11
So currently we have had the same contract with the city since 02/2006 and that has been the twenty one point one.
2:08:20
We are currently pegged and so that contracted amount right now for fiscal year 2026 is looking to be at 17,450,000.00.
2:08:29
And so that will definitely unfortunately cause us to look at first I shouldn't say first.
2:08:36
We'll look at international presence.
2:08:38
New York City has 17 international offices as we should because part of our roles and responsibility is to promote New York City internationally and so currently we only have 14.
2:08:50
Prior to COVID we had 17 so we'll definitely have to look at that and we wouldn't be able to maintain the 14 that we have.
2:08:57
The reason why international visitation is extremely important to New York City is because they stay longer and they spend more and it's also an opportunity to get those visitors into the five boroughs so they're not just Manhattan, they'll go all over.
2:09:11
The other thing that we will definitely have to look at is actual staff and we may have to do layoffs if not job eliminations depending on depending on on the overall budget.
2:09:23
The concern for all of us with that is obviously as we know visitors are they're an export.
2:09:30
They come to the destination, they leave money, and they leave.
2:09:33
And so not having the proper funding to have appropriate marketing, strategic marketing and sales programs to do the job so that we can promote New York City.
2:09:44
We've never questioned.
2:09:45
We don't have an awareness problem in New York City.
2:09:48
We do have an opportunity where if we're not marketing at the level that we should to our competitors, you're not able to get to actually buy.
2:09:55
So it's one thing to say if you're in UK, I know where New York City is.
2:09:59
It's another actually to push the button and actually make a visit and schedule a trip.
2:10:04
And so the concern that we have is as we're looking at the landscape today and the potential of the tariffs and the today impact
Andrew Kimball
2:10:12
that they could have, as well as increased competition from