It seems that the New York area is not the center of attraction. Recent statistics show a decline in migration to the region during the past seven years.
According to United States Census records, one million people have moved out of the Tri-State area since 2010. Such number is presently the highest negative net migration in the nation.
Regions that are mainly affected by the changes are the lower Hudson and Long Island areas. New York City has also experienced a bit of population decline with growth rates reported as slower than normal. Still, even with the lack of rapid increase, the Big Apple remains one of the most sought after regions with a current population of more than 8.5 million residents.
While some blame the decline in migration to the Tri-State area on colder climates that sometimes hold people hostage in their homes for days, the experts say that the economy has a lot to do with residents leaving New York and surrounding East Coast states.
“The historical trend is that out-migration grows when the economy is getting better,” E.J. McMahon of Empire Center for Public Policy says. “As the economy gets better, there are more jobs outside the region and by the same token . . . more people to buy your house if you’re a baby boomer looking to move to Boca Raton or Myrtle Beach.”
According to this explanation, it is possible that the current slump is only temporarily. Of course, it is important to recognize retirees who no longer have a desire to live in the city. Such travelers will probably never return to the Tri-State area.
Regardless of the present decline in migration, New York, and its surrounding states remain a popular attraction for international travelers. More than 160,000 individuals coming from other countries chose to settle into the East Coast last year. Although the numbers are not as significant as years prior, they are still promising.