Recovered from 9/11 attacks but pandemic ruined business, more than 350 retailers closed business in last 18 months

The Amish Market, which was once a hallmark of New York, opened in 1999 at the south end of Manhattan near the World Trade Center. There were stores of grocery and other essential goods in the market. Two years later, on September 11, 2001, the 110-storey Twin Towers collapsed in a terrorist attack.

Amish Market stores were engulfed in the rubble and dust of the tower. The market, which was closed after the attack, opened after five years at a new location a short distance away. Lower Manhattan made a mark as the largest business district in the country. This place has become a center of tourist attraction due to the construction of a museum and monument on 11 September.

The number of staff at the Amish market doubled. The weekly sales in the market were around Rs.1.25 crore. But, all this progress was ruined within a few days in another crisis. Business in Lower Manhattan has been hit hard. After the outbreak of the Corona virus in New York in March 2020, the surrounding areas were evacuated. The turnover per week in the Amish market was Rs 17 lakh. The market closed in September last year. More than 350 retailers have closed business in Lower Manhattan in the past 18 months.

More than 21 percent of office space is vacant in Lower Manhattan. The downturn since last year has been exacerbated by the spread of the delta variant. After the terrorist attack, there was speculation that Lower Manhattan would never recover. But, the picture changed in twenty years. The area was lit up with government and private investment of about 1.5 lakh crore rupees.

Manhattan became a symbol of New York’s recovery from the crisis. Several new buildings have come up next to the Twin Towers, including One World Trade Center. Tourists started thronging the area. One crore 40 lakh tourists started coming every year. But, the pandemic has squeezed much of Lower Manhattan’s life. Many big companies have vacated their offices.

Source: Bhaskar

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