Holidaymakers have been advised that despite the turn of the exchange rate, New York remain an excellent value vacation destination.

The NYC & Company firm made the claim, asserting that shopping prices in the city are often rock-bottom and top-quality counter-acting any downturn in exchange rate between the pound and dollar, from the British point of view.

According to a British Airways study, entitled 'New Year, New You, New York', published on January 8th 2009 the carrier has cut the cost of flights to New York by 23 per cent, meaning that holidaymakers can now fly to the city that never sleeps for as little as £259.

Jonathan Sloane, communications director at NYC & Company, explained that the last few years have been unusally favourable for British travellers.

He said: "Visitors to the US have enjoyed a honeymoon period of a few years at the $2 to £1 [exchange rate], making shopping, accommodation, eating out and more all seem at bargain prices."

The U.S. hotel industry experienced declines in three key performance measurements during the week of December 28th 2008 to January 3rd 2009, according to data from STR.

The firm found that luxury segment occupancy was up 2.5 per cent (55.2 per cent); average daily rate was down ten per cent (US$322.31 (£214.94) while revenue per available room (RevPAR) was down 7.7 per cent (US$178.06 (£118.75)).

Furthermore, other studies have revealed that there are US cities rivallying New York in the holiday market.

Statistics have revealed that San Fransisco; Orlando, Florida; Houston, Texas are all on the up in the tourism world, with travellers from all over the globe.

However, New York still has a certain appeal with travllers which cannot be quashed.

The Lonely Planet travel guide describes the cirty that never sleeps as a place than can be "anything you want it to be".

The guide says: "If you'd like your day to be filled with high culture, work your way through the tomes at the Pierpont Morgan Library, then onto the Metropolitan Museum of Art before rounding out your day with a little ballet at Lincoln Center.

"Or if you like your city grittier, spend an afternoon wandering through Little Korea, cross the river for some innovative art at Pierogi 2000 in Williamsburg and check out the moves at the West 4th St Basketball Courts. Just don’t be too shocked if your day of high culture turns edgy when you come across a gorgeous jazz singer on the subway platform – or if your bohemian day gets fancy when a chic boutique seduces you, and you’re shelling out for perfect shoes before you know it. Whatever. New York is easy that way."

Mr Sloane from NYC & Company concludede: "The rate is now back to the level that most people remember and a trip to NYC still remains great value particularly in terms of shopping prices. In relative terms against other popular tourism destinations, there hasn’t been a huge impact as the UK pound has dropped against most currencies, in particular the euro."