In The News: Center for Business and Economic Research
Inflation, the job market, and interest rates are major factors in our current economic state. Our economic panel explores these topics and their impact on Nevadans. We also discuss The Beverly Theater’s new initiative to introduce filmgoers to movies that won’t go to streaming services, and one county leader’s memories of working to get Las Vegas visitors home in the aftermath of 9/11.
New figures from the UNLV Center for Business and Economic Research show the city hosted 3.1 million visitors in July, a 12% drop from the year-ago month.
As visitation to Las Vegas trends downward and concerns about high prices, especially on the Strip, fill social media, tourism officials here are looking for a brand refresh.
What happens in Vegas … could spell trouble for the U.S. economy. Empty hotel rooms, half-filled casinos and an overall feeling of dread have cast a pall on this normally bustling mecca of 24-7 entertainment.
The number of homes on the market in Las Vegas jumped a whopping 31% in July compared to the same month last year, the highest increase in housing inventory for any major U.S. metro area.
The Las Vegas-area’s unemployment rate in July, 6 percent, was tied for third highest in the nation among the 50-plus metro areas with at least 1 million people, according to the U.S. Bureau of Labor Statistics.
Las Vegas, known for its vibrant hotels, casinos, and entertainment, has seen a downturn in tourism, influenced by a variety of factors.
A mom-and-pop casino in Las Vegas is set to close in the fall, after Sin City's rip-off prices sent tourism into freefall.
Flight data from Harry Reid International Airport in Las Vegas shows a significant decline in Canadian tourism.
Flight data from Harry Reid International Airport in Las Vegas shows a significant decline in Canadian tourism.
Las Vegas’ tourism-dependent economy is hitting the brakes. Visitor volume and consumer spending are tumbling in America’s casino capital, and the local unemployment rate is hovering among the highest in the country for big metro areas.
Tourism in Las Vegas is down since last year — and tip-dependent workers, like bartenders and dealers who rely heavily on tourist traffic, are especially vulnerable, even with Trump’s ‘no tax on tips’ policy. The Wall Street Journal reports that tip incomes in Las Vegas are shrinking across the board.