The tourism industry in Las Vegas has restored all but 1.3 percent through the devastating fallout of the recession, but what lies ahead for Sin City’s visitor growth for the next five years? It depends who you ask.
Las Vegas tourism continues to flourish, but several factors could hamper future expansion, from terrorism to flight pilot shortages.
Several facets point toward slower growth, but the recovery from the 2008 Great Recession is almost complete.
That’s according to 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 restricted capacity, in 2018, in accordance with 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’ve seen going back 3 years.
Tourism Records Broken
Visitor numbers in Las Vegas have actually been spiking since 2015. Occupancy rates in hotels, as well as average daily space prices, have actually additionally gone up in the past couple of years, in line with the LVCVA.
It offers certainly been a bull market for both the Strip and downtown in Las Vegas. In 2016, 42.9 million visitors flocked to las vegas, a [Read more…] about Is Vegas Tourism’s Future Boom or Bust? Experts Have Different Viewpoints