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What's driving the business boom of 2023

Business openings in the U.S. have exceeded 2019 levels every month this year, thanks to a surge in travel, events and get-togethers.

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What's driving the business boom of 2023
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5 stories in this Storyboard

    The big picture

    New listings of shops and services on Yelp are on track to beat 2022's all-time high.

    Inside the business boom of 2023

    Inside the business boom of 2023

    Nearly 484,000 new businesses popped up on the platform from January through the end of July this year — compared to about 389,000 over the same time period last year. That's a roughly 25% increase year-over-year, and a 46% increase from the same period in 2019.

    Between the lines

    Openings increased across every category and were driven across the country by hotels and travel, home services, auto, event services and local services businesses.

    Go deeper

    What to watch: How long economic optimism lasts and whether momentum continues as banking conditions tighten for small businesses.

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