The "entertainment capital of the world" isn't drawing tourists like it once did. Social media is full of users reporting "Las Vegas is dead," offering up photos and videos showing largely empty airports, planes, and casinos. Here's what the posts don't show, per Newsweek and the Los Angeles Times:
- Just 3.1 million people visited Sin City in June, marking an 11.3% year-over-year decline, according to the Las Vegas Convention and Visitors Authority (LVCVA)
- The number of air travelers into Las Vegas fell 6.3% year-over-year in June
- Hotel occupancy was at 66.7% in early July, down 17% from the same period last year, according to STR
- Vegas has seen revenue per available room fall 29% year-over-year, the steepest decline nationally
- Nevada gaming revenue fell 2.2% in May, with the Vegas Strip's revenue falling 3.87%
- Meanwhile, there's been a spike in housing inventory, up 77% from a year ago, according to Realtor.com's June report
This comes amid a slump in international travelers to the US. The country is expected to lose $12.5 billion in international travel spending this year, according to the World Travel and Tourism Council. International travelers typically make up about 12% of Las Vegas visitors, with Southern Californians making up about 30%, per the Times. Canadian visits were down 14.5% for the first four months of the year, per USA Today. (Meanwhile, the Las Vegas Strip is now unionized.)
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