The tourism industry in Las Vegas has restored all but 1.3 percent from the devastating fallout for the recession, but what lies ahead for Sin City’s visitor growth for the following five years? This will depend who you ask.
Las Vegas tourism continues to flourish, but several factors could hamper expansion that is future from terrorism to airline pilot shortages.
Several factors point toward slower growth, but the recovery from the 2008 Great Recession is practically complete.
That is 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 capacity that is limited in 2018, according to a story in the vegas Review-Journal.
Those thoughts are 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 will have seen the past 36 months.
Tourism Records Broken
Visitor numbers in Las Vegas have actually been spiking since 2015. Occupancy rates in hotels, also average room that is daily, have actually additionally gone up into the past couple of years, according to the LVCVA.
It has surely been a bull market for both the Strip and downtown in Las Vegas. In 2016, 42.9 million visitors flocked