Allen E. Hoppe, CFA, CTP,
Director - Banking, Investments and Debt
Minneapolis recently saw the largest year-over-year increase in downtown visitors, according to a new study examining the recovery of major North American cities.
A new cell phone activity study from the University of Toronto's School of Cities found Minneapolis experienced a 45.3% increase in visits to downtown when comparing February 2024 to March 2023.
The increase in visitors to Minneapolis represented the largest jump documented in the study, which examined 64 major cities in the United States and Canada.
While 50 of the downtowns studied showed an upward trajectory, Minneapolis, Montreal, Ottawa, Chicago, Louisville, Pittsburgh, Cincinnati, Boston, Washington DC, and Toronto showed the strongest signs of recovery.
The Minneapolis data shows a significant increase in visitors in the months of June and July of 2023.
Notable events during this time included Taylor Swift's two concerts at the U.S. Bank Stadium, the Twin Cities Pride Festival and the Kiwanis International Convention, which contributed to record-breaking hotel bookings.
While the study did not extend to March 2024, the Big Ten women's basketball tournament held last month also brought a substantial boost to downtown Minneapolis.
Explore the entire Recovery Trends study here.
It marks a major improvement for Minneapolis, which initially struggled to recover from the COVID-19 downturn, and was ranked 64th out of 66 in North America for downtown recovery as recently as October.
