Vegas Tourism Takes A Dive
Formerly thought to be recession-proof, the tourist mecca of Las Vegas is taking a hard hit during the current economic recession.
Officials there are expecting to see the fewest amount of tourists visiting town since 1999.
"The Strip's business model for the 21st century, which was to tap into an ever-expanding supply of free-spending visitors clamoring for first-class hotel rooms, four-star restaurant fare and high-priced shows, has been shattered by its worst recession in decades.
Vegas' ability to weather previous declines made it seem recession-proof. No longer. The carnage left by the economic downturn that began last year is unlike anything this town has seen.
Tourism is down for the second year in a row, and the people who come aren't spending with the abandon of the past."
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Vegas
Overall tourism has been down. However, this past holiday weekend there were hordes of tourists on the strip. They haven't released any numbers on the occupancy rates for the major hotels yet, but there seemed to be a lot of out of towners in Las Vegas last weekend. I don't think tourism will pick up significantly until the nation unemployment rate goes down.
I work as a Las Vegas Real Estate webmaster in Southern Nevada.