Las Vegas visitor spending reached a record $79.3bn in 2022
The total economic output related to visitor spending was up 24.7 per cent from the previous record set in 2019.
US.- A new report from the Las Vegas Convention and Visitors Authority (LVCVA) has revealed that the total economic output related to visitor spending in 2022 reached a record $79.3bn. That’s an increase of 24.7 per cent from the previous record set in 2019.
The annual Economic Impact of Southern Nevada’s Tourism Industry report outlines economic impacts associated with the region’s tourism industry and convention travel, including visitor spending on rooms, dining, shopping, sports, local transportation and other activities and amenities.
The 2022 report shows a strong rebound after the Covid-19 pandemic. Visitor spending hit an all-time high of $44.9bn, exceeding pre-pandemic 2019 levels by 21.8 per cent and 2021 levels by 24.4 per cent. Southern Nevada’s tourism industry remained the largest regional employer in 2022, directly employing an estimated 229,440. Including indirect employment, the figure rises to 358,880, up 21.3 per cent over 2021.
Steve Hill, CEO and president of the LVCVA said: “These results are a powerful testament that what we do in concert with our resort partners to market this destination has an undeniable impact on our community. We’re proud of this city and this industry and know that the upcoming offerings in the destination will add to that success.”
Kate Wik, chief marketing officer of the LVCVA, added: “As we emerged from the pandemic, our consumer research made clear it was the perfect moment for us to capitalize on pent up travel demand. We’re thrilled to see not only the strong rebound in visitation, but also the significant impact our visitors have on our state’s economy.”
The report’s findings are based on data sourced from the LVCVA; the Nevada Department of Employment, Training and Rehabilitation; the Nevada Gaming Control Board; Clark County School District; the Nevada Commission on Tourism; and the Bureau of Economic Analysis. The report was compiled and presented by Applied Analysis on behalf of the LVCVA.
Nevada gaming revenue reaches $1.24bn in February
The Nevada Gaming Control Board (NGCB) has reported that the state’s casinos generated $1.24bn in gaming revenue in February. That’s an increase of 11 per cent year-on-year.
The Las Vegas Strip generated $712.4m, up 18 per cent year-on-year. Clark County as a whole, which includes the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip and other surrounding areas, generated $1bn, a 13.8 per cent increase. Washoe County, which includes casinos in Reno, Sparks, and North Lake Tahoe, saw revenue fall 8 per cent year-on-year.
