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Center City is Seeing More Foot Traffic and Spending, but Also More Office Vacancies

More people were visiting, living and spending in Center City Philadelphia this summer than they have since the start of the pandemic, but the city’s economic recovery is still a gradual one. 

The Center City District on Monday released its quarterly report tracking a number of metrics including unemployment rates, office vacancy rates, businesses open, travel and tourism numbers, public transportation ridership and number of residents.

The city’s recovery from the pandemic has charted a path that has often lagged behind comparable big cities. Many of the economic indicators in the report follow a similar tone — a slow but steady climb to pre-pandemic numbers. 

“It may not be fast enough for all of us, but we’re headed in the right direction,” said Paul Levy, CEO of the Center City District. 

Levy believes that September and the fall months will be an important determinant of where the city stands in its recovery. 

*Article courtesy of Philadelphia Business Journal

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