Report shows tourism is vital to Las Vegas economy

Las Vegas has always been a popular destination with visitors on five-star USA tours and the report by Applied Analysis has revealed that around 40 million people visit the city every year.

The report, which was released during a Las Vegas Convention and Visitors Authority meeting last week, said that these visitors tend to spend a lot of money on their trips.

Tourism boosts local area

The report noted that every dollar that is spent in Las Vegas – which is known as the entertainment capital of the world - goes towards the local economy and businesses based in the valley.

The overall impact of tourism on the economy of southern Nevada last year was a staggering $45 billion.

Jeremy Aguero, a principal analyst for Applied Analysis, told the Las Vegas Convention and Visitors Authority that tourism is a vital component of the city.

He said, "I think the headline for the report this year is that the economic impacts remain remarkably large.

"We're talking about as many as 376,000 employees whose job is either directly or indirectly dependent on our (Las Vegas) tourism economy.

"It's roughly 24 cents out of every dollar that's paid to every worker every year, is directly dependent on tourism and on the decision of tourists to come to Las Vegas."

The study’s findings also noted that, as well as all of Las Vegas’ casinos, large events such as NASCAR and world-title boxing matches also draw in hoards of visitors to the city.

It had previously been revealed that in 2013 Las Vegas saw an increase of around 163,000 visitors on the preceding year, and the Applied Analysis visitor report has found that, on average, visitors spent 60 bucks more per trip in 2013.

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