Business Week recently posted an excellent and extensive article on the fall of Niagara Falls, New York. For the past four decades, Niagara Falls has continued to plummet into ever increasing decline. The city today has both a high level of crime and a high level of unemployment. While similar decline has taken place in a large number of rust belt cities throughout the United States, what is most remarkable about Niagara Falls, New York is that it sits beside of the world’s greatest natural wonders (Niagara Falls). The city is visited by more than 8 million people per year, a number that would generally keep the city’s economy fairly strong, yet the city continues to plummet despite all of these tourists.
What is also remarkable is the success of Niagara Falls, Ontario on the other side of the border. While Niagara Falls, Ontario still has it’s share of problems, the city’s tourism industry is booming with dozens of hotels and attractions. Having visited Niagara Falls, Ontario several times, I can tell you that many parts of the city are buzzing throughout the year. The article provides some excellent insight into how such an odd situation has occurred with regards to the two Niagara Falls cities and why Niagara Falls, New York has consistently struggled throughout the decades.