The tourism industry in Las Vegas has restored all but 1.3 percent from the fallout that is devastating of recession, but what lies ahead for Sin City’s visitor growth for the next five years? It depends who you ask.
Las Las Vegas tourism continues to flourish, but several factors could hamper future expansion, from terrorism to flight pilot shortages.
Several factors point toward slower growth, nevertheless the recovery from the 2008 Great Recession is nearly complete.
That’s based on UNLV’s Center for Business and Economic Research director Stephen Miller, who said at a presentation earlier this week that Southern Nevada’s tourism economy will drop slightly, but then rebound in a capacity that is limited in 2018, in accordance with a story in the Las Vegas Review-Journal.
Those thoughts have been in direct contrast to those of officials at the Las Vegas Convention and Visitors Authority (LVCVA). Execs there genuinely believe that indicators point toward an upsurge in visitors, continuing a trend they have seen for the last three years.
Tourism Records Broken
Visitor numbers in Las Vegas have been spiking since 2015. Occupancy rates in hotels, as well as average daily room prices, have actually also gone up in the past couple of years, based on the LVCVA.
It offers definitely been a bull market for both the Strip and downtown in Las Vegas. In 2016, 42.9 million visitors flocked to la Read more