A deal signed by Mayors Boris Johnson and Michael Bloomberg will see the two cities’ tourism agencies swap advertising space and share best marketing practice to promote the attractions each destination offers.
London’s contribution includes providing advertising space across the Tube network worth £200,000.
The 12 month partnership follows a previous agreement signed by the two cities in 2009.
City Hall says the deal aims to drive up visitor numbers at both large and small venues and encourage greater cooperation between cultural institutions.
Official figures show that more than 1.8 million Americans visited London last year and spent almost £1.5 billion in the capital while New York City played host to more than a million UK visitors.
Mayor of London Boris Johnson said: “As great world cities for culture, London and New York offer the visitor an extraordinary number of attractions, so I am delighted to be renewing this important partnership.
“Let’s shout it out loud: London loves New York and New York loves London and as big, bold cities, tourism has a vital part to play in the prosperity of each.
“As the global economy emerges from this economic downturn, our goal is to build on the mighty reputations of each as pre-eminent destinations for culture hungry visitors.”
Mayor Bloomberg added: “Mayor Johnson and I have long championed the need for municipal governments to diversify their economies and maximise opportunities to support small businesses and cultural institutions.
“Encouraging tourism development was one of our first initiatives together and renewing and enhancing these commitments will be pivotal to the continued vibrancy of these two world-class cities.”
