As the locals will confirm, although it’s definitely a must-see for a tourist, there’s not much to actually ‘do’ in Times Square unless you want to pay high prices for tourist places and chain restaurants.
I absolutely loved it and I can’t wait to see it and experience it again when I go back to NYC next year. I loved all the billboards, the lights, the hustle and bustle…but it’s not somewhere you’d plan to eat or shop at and I personally wouldn’t want to stay too close to it.
From memory:
Shops – M&Ms World, The Disney Store, Toys’R’Us, Sephora, MAC, Forever 21. There’s no ‘real’ shopping here that you can’t find anywhere else (Sephora and MAC for example are all over the place) but I spent a fair bit of time in the Disney Store and M&Ms world. There are also plenty of souvenir shops but you’ll find cheaper places elsewhere.
Bars/restaurants – overpriced tourist places and chain restaurants. Avoid this area for eating and drinking if you can, there are much better options available everywhere else around NYC. I did get Starbucks and a slice of pizza from some shop there, but I’d never actually plan to go to Times Square for a full meal.
A fair few Broadway theatres are also in the vicinity and I think there’s also a cinema close by.
Edited: 14 February 2012, 15:30