Las Vegas is facing significant tourism challenges, with air travel declining 4% in early 2025 compared to the previous year. Hotel occupancy rates have fallen by nearly 15% in June and 17% in early July, which is the steepest drop among the top U.S. tourism markets. International visitor numbers also declined by 13.2%. Economic forecasts suggest a slow contraction in tourism through 2026, driven by changes in consumer income and potential recession concerns stemming from tariffs and inflation.
Air traffic into Harry Reid International Airport is trending downward, as domestic travel for the first half of 2025 was down 4% compared to last year.
Hotel occupancy dropped nearly 15% in June and another 17% in early July, marking the steepest decline among the top 25 U.S. tourism markets.
Gross gaming revenue over time will likely return to pre-pandemic trends, as savings and discretionary income return to where they were before the pandemic.
Tourism troubles in Las Vegas signal a potential recession that could impact consumer spending before affecting other major cities.
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