NYC Calculates Post-Sept. 11 Travel Losses

The New York City Partnership and Chamber of Commerce today said the city's travel industry probably will suffer a $7 billion to $13 billion loss during the next two years as a result of the Sept. 11 terrorist attacks.

Citing a report by Boston Consulting Group, the partnership expects fourth-quarter revenues for this year to decline by 29 percent over the prior year. Officials cited international business travelers as one of the groups that experienced the most dramatic decline.