The tourism industry in Las Vegas has restored all but 1.3 percent through the fallout that is devastating of recession, but what lies ahead for las vegas'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 airline pilot shortages.
Several facets point toward slower growth, however the recovery from the 2008 Great Recession is almost complete.
That is in accordance with UNLV's Center for Business and Economic analysis 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, based on a story in the Las vegas, nevada Review-Journal.
Those thoughts are in direct contrast to those of officials during the Las Vegas Convention and Visitors Authority (LVCVA). Execs there believe that indicators point toward an upsurge in visitors, continuing a trend they've seen the past three years.
Tourism Records Broken
Visitor numbers in nevada have actually been spiking since 2015. Occupancy rates in hotels, in addition to average room that is daily, have also gone up in the previous couple of years, based on the LVCVA.
This has surely been a bull market for both the Strip and downtown in Las Vegas. In 2016, 42.9 million site visitors flocked