(NEW YORK POST) – New York’s golden geese are flying south, and not just for the winter.
The analytics firm Unacast reports that more than 3 million people have fled the city during the pandemic – replaced by slightly fewer who earn a lot less, for a net reduction in income of some $34 billion. Its estimates, based on cellphone data, may be off a bit, but signs that higher earners have left town are everywhere.
And top businesses are eyeing the exits, too. Deutsche Bank AG is the most recent in a long line of major companies looking to escape the tax-heavy, high-cost city to set up headquarters in friendlier business climates such as Florida and Texas.
Advertisement - story continues below