Retailers in prime urban retail corridors like NYC's Times Square, Boston's Seaport District and Chicago's Michigan Avenue are getting a big boost from the recovery of domestic tourism to pre-pandemic levels—a surge that is being dampened by lagging international travel.

According to new report from JLL on prime urban retail corridors—entitled City Retail 2023 and released at the start of ICSC in NYC—domestic tourism now is exceeding pre-pandemic levels in six major US markets. In a comparison of September 2022 and September 2019 statistics, Miami (129%); Boston (120%); Los Angeles (117%), NYC (112%); Philadelphia (108%); and Chicago (101%) all have exceeded the 2019 level for domestic tourism.

"While this has offered a needed boost to tourist-dependent retailers, foot traffic in these corridors will likely remain partially depressed until international tourists return," JLL's report stated.