Las Vegas tourism ‘almost back’ to pre-pandemic levels, despite conventions and delays abroad • Nevada Current

The number of tourists visiting Las Vegas is nearing pre-pandemic levels even as convention attendance remains 10% lower, one of the region’s top tourism promoters recently told economic forecasters.

According to data presented last week by Las Vegas Convention and Visitors Authority CEO Steve Hill at the Economic Forum, visitor numbers were 42.5 million in 2019, fell to 19 million in 2020 and have reached almost 41 million in 2023, a panel of economics and tax experts tasked with establishing the official revenue forecast for the Nevada state government.

“Looking at 2024 from the beginning, we’re almost back to 42.5 million, but not quite there yet,” Hill added.

International travel remains below pre-pandemic levels, although recovery rates vary by country.

In 2023, the number of visits from Canada and Mexico was 96%, compared to the pre-pandemic situation in 2019 – 97%. These North American neighbors make up half of all international travelers to Las Vegas.

However, the number of foreign visits, especially from Asian countries, continues to lag. The number of visits from China last year was about a third of the number before the pandemic. Visiting Japan is 44% of what it was. Visit South Korea is doing better at 78% of 2019 levels.

LVCVA is currently aimed at UK tourists. UK visitor numbers to Las Vegas in 2023 were 74% of pre-pandemic levels.

Hill says convention tourism remains about 10% below pre-pandemic levels. In 2019, 6.6 million guests came to Las Vegas for conventions. In 2023, 6 million did so. LVCVA does not expect this number to naturally return to pre-pandemic levels.

“We think we can increase that number, but it will require a sales effort,” Hill said. “It’s not waiting for others to come back who haven’t come back yet.”

Hill noted that there is an overlap between the number of international visits and the smaller number of convention visits because foreign visitors can make up a significant percentage of attendees at major conventions. They make up about one-third of attendees at the annual National Association of Broadcasters Show (known as the NAB Show) and Consumer Electronics Show (CES).

Over the past four years, Las Vegas has added 3.5 million square feet of meeting space, which Hill said will help LVCVA attract new programming. Authorities would like to increase congress tourism to 8 million visitors a year, although these efforts may be hampered by room availability, which currently cannot meet this increase.

Room occupancy in Las Vegas averaged 83.5% in fiscal 2024 compared to 88.4% in fiscal 2019.

“At this point, with this number, we are relatively flat,” Hill told forecasters.

Hill said LVCVA believes it can target specific areas to increase that rate by 5 percentage points, which is “a significant number of visitors,” he added. This would increase average occupancy to 90%, which would be around the peak set several years before the Sabbath.

According to STR, a data and analytics company focused on the hospitality industry, average occupancy in Las Vegas is significantly higher than nationwide. In 2024, average occupancy nationwide was 62.8% compared to 83.5% in Las Vegas. This reflects pre-pandemic trends, in which Las Vegas outperformed the nation as a whole by 20 to 23 percentage points. Las Vegas also outperforms the top 25 tourism markets, though by a smaller margin.

RevPAR – a “revenue per available room” metric used by tourism officials that compares revenue and occupancy rates – is performing above the national average in Las Vegas.

Data presented by Hill shows that although tourism volumes have not fully recovered, tourist spending is already higher than before the pandemic. Total visitor spending was $51.5 billion last year and $44.9 billion in 2022, up from $37 billion in 2019.

Nevada saw it too record level of winnings in games since the pandemic.

The Economic Forum will use the information provided by Hill and other presenters to determine the state’s official revenue forecast, which is expected to be released in early December. This forecast will serve as the basis for the state’s two-year budget, which will be adopted by the Legislature and signed by the governor next year.

The next meeting of the forum is scheduled for November 7 and then again on December 2.