The Center for Business and Economic Research
University of Nevada, Las Vegas
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The Center for Business and Economic Research University of Nevada, Las Vegas
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The sharp drop in gaming revenue for May 2008, down 16.4 percent from a year ago, has captured headlines far beyond the Silver State. Gaming revenues have waned as of late, to say the least. Indeed, the decline in gaming revenue has contributed to CBER's Tourism Index's decline since November 2007. Only a slightly positive improvement in December has broken the seven-month decline. The index is 9 percent below year-ago levels. Oil over the same period has increased from about $90 per barrel to $125, with futures prices having peaked at near $145. The near 40 percent increase in energy prices has curtailed consumer spending for travel and other more discretionary-spending categories, such as autos and furniture. The outlook for the index remains weak so long as consumers experience reduced effective spending power.
R. Keith Schwer
| Date | TOURISM INDEX | SEASONALLY ADJUSTED | CHANGE PREVIOUS PERIOD* | CHANGE YEAR AGO* |
| May-07 | 171.01 | 161.77 | -0.71% | 3.06% |
| June-07 | 158.13 | 158.74 | -1.87% | 6.19% |
| July-07 | 172.38 | 170.4 | 7.35% | 7.29% |
| August-07 | 163.28 | 160.92 | -5.57% | 0.60% |
| September-07 | 159.77 | 162.57 | 1.02% | 4.72% |
| October-07 | 171.73 | 165.1 | 1.56% | 4.99% |
| November-07 | 152.91 | 159.04 | -3.67% | -8.01% |
| December-07 | 157.91 | 171.48 | 7.82% | 0.87% |
| January-08 | 155.72 | 156.45 | -8.77% | -3.03% |
| February-08 | 153.17 | 158.84 | 1.53% | -0.59% |
| March-08 | 163.22 | 155.22 | -2.28% | -1.47% |
| April-08 | 155.57 | 155.17 | -0.04% | -4.77% |
| May-08 | 155.8 | 147.21 | -5.13% | -9.00% |
The CBER Tourism Index for southern Nevada measures overall activity in travel and tourism. Three indicators, weighted equally, comprise the index. These series are McCarran Passengers (enplaned and deplaned), Clark County Gross Gaming Revenue, and Clark County Hotel Occupancy. The base period is January 1995. The series is seasonally adjusted using X-12 adjustment procedures.
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