4 million fewer annual visitors are now coming to Las Vegas, with overall visitation down about 7.5%, LVCVA CEO Steve Hill told Nevada’s Economic Forum.
Hill said the decline is concentrated at the lower end of the market as the top 10% of households gain wealth, while the bottom 50% face rising credit-card debt and delinquencies that squeeze discretionary travel.
20%+ domestic airfare increases to Reid International since March—versus 12% nationally—have added pressure, especially after Spirit Airlines’ May shutdown removed a major low-cost carrier; only half its seats have been backfilled.
19% of surveyed consumers said vacations mattered more this year, while half said making ends meet mattered more; Hill also cited consumer sentiment at an 80-year low of 49.5%.
Tourism spending per visitor has still risen since 2019, and forum member Brian Gordon said the sector appears stable from a revenue standpoint ahead of Nevada’s Nov. 16 budget forecast.