The tourism industry in Las Vegas has recovered all but 1.3 percent from the devastating fallout regarding the recession, but what lies ahead for Sin City’s visitor growth for the next five years? This will depend 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, but the recovery from the 2008 Great Recession is practically complete.
That’s based on UNLV’s Center for Business and Economic Research director Stephen Miller, whom said at a presentation earlier this week that Southern Nevada’s tourism economy will drop slightly, but then rebound in a restricted capacity, in 2018, according to a story in the Las Vegas Review-Journal.
Those thoughts come in direct contrast to those of officials during the Las Vegas Convention and Visitors Authority (LVCVA). Execs there genuinely believe that indicators point toward an upsurge in site visitors, continuing a trend they have seen the past 3 years.
Visitor numbers in Las Vegas have been spiking since 2015. Occupancy rates in hotels, along with average room that is daily, have actually additionally gone up within the previous two years, in line with the LVCVA.
It’s certainly been a bull market for both the Strip and downtown in nevada. In 2016, 42.9 million visitors flocked to las ve (more…)