Increases in core indicators point to continued recovery for Las Vegas tourism
LAS VEGAS – Las Vegas welcomed a record 39.7 million visitors in 2012, approximately a half-million more visitors than the previous high of 39.2 million set in 2007. The record visitation generated more than $ 40 billion in economic impact for the local economy last year.
The 2012 year-end statistics, released today by the Las Vegas Convention and Visitors Authority (LVCVA), point to continued recovery for Las Vegas tourism with increases in all of the key core indicators.
"The record visitation is a testament to the dedication and commitment of our resort partners and every employee who works in the industry," said Rossi Ralenkotter, president/CEO of the LVCVA. "Tourism is the economic leader for Southern Nevada and the entire state, so we are encouraged to see positive signs of continued growth for the industry. With more than $ 2 billion of reinvestment in the destination, Las Vegas is well positioned for continued growth in 2013 and on the threshold of hosting more than 40 million visitors."
Other year-end highlights:
- Compared to 2011, visitor volume increased 2.1 percent in 2012 with approximately 800,000 more guests allowing the destination to reach 39.7 million annual visitors.
- Gradual improvement in the meetings and convention industry with 4.9 million delegates attending a convention, trade show or meeting in 2012, reflecting a 1.6 percent increase over last year. This is the highest convention attendance in four years.
- Las Vegas hosted 21,615 meetings, tradeshows or conventions in 2012, up 13.6 percent from the 2011 total of 19,029. The 2012 total is the highest number of meetings and conventions held in Las Vegas since 2008.
- Average citywide occupancy was up 0.6 percentage points to 84.4 percent for 2012. Las Vegas’ citywide occupancy is 23 percentage points higher than the national average of 61.4 percent. With industry-leading occupancy of 84.4 percent for its 150,481 rooms, Las Vegas fills more rooms per night on average than any destination in North America.
- Las Vegas’ average daily room rate increased $ 3 to $ 108 in 2012.
- Clark County gross gaming revenue reached $ 9.4 billion in 2012, a 1.9 percent increase over last year. On the Las Vegas Strip, revenues increased 2.3 percent to $ 6.2 billion in 2012.
Another positive indicator for Southern Nevada’s tourism industry is the addition of nearly 23,000 jobs in the resort-industry since the recessionary low in November 2009. Tourism supports 370,000 jobs, or 46 percent of all the local jobs.
Additional information regarding Las Vegas 2012 visitors will be available later this spring when the LVCVA releases its annual Visitor Profile Study, detailing visitor trends, attitudes, behaviors and spending habits while visiting the destination.
