Southern Nevada’s tourism industry created record-breaking visitation and unmatched economic impact in 2016.
According to the latest Economic Impact Series presentation delivered by Applied Analysis at the Las Vegas Convention and Visitors Authority’s (LVCVA) Board of Directors meeting, tourism now generates an estimated $59.6 billion for the economy. In 2016, Southern Nevada’s tourism industry supported an estimated 407,000 jobs, representing nearly 44% of the total workforce. These jobs generate $16.9 billion in local wage and salary payments.
Rossi Ralenkotter, President & CEO, LVCVA, said, “We are dedicated to ensuring that Las Vegas continues to deliver a remarkable experience.Tourism is Southern Nevada’s most impactful economic driver, and this report truly highlights the industry’s importance.”
In 2016, Southern Nevada welcomed a record-breaking 42.9 million visitors and the destination expects to break that high once again in 2017. Spending by visitors noticeably increased in 2016, with total direct spending of $35.5 billion (or an average of $827 per visitor) an increase of 16.3% more than 2015’s total direct spending of $30.5 billion (or an average of $721 per visitor).
In addition to the growth in overall visitation, Las Vegas also reached an all-time record for business travel in 2016 with 6.3 million visitors in the destination for a meeting or trade show. Convention attendance was the primary driver for tourism growth in 2016, accounting for more than two-thirds of the total increase from 2015 to 2016.
“Tourism has always been crucial to Southern Nevada’s economy, and we couldn’t be happier to see the record-breaking numbers from 2016 and anticipate topping those numbers once again in 2017,” said Lawrence Weekly, Chairman, LVCVA and Clark County Commissioner.