The post Las Vegas Decline Continues as Jobless Rates and Room Costs Mount appeared first on Vegas Slots Online News.
Over the past year, Las Vegas tourism has taken a serious hit. Experts have blamed it on growing inflation, the rising cost of living, and the result of President Donald Trump’s aggressive tariff policy.
Regardless of the cause, the signs are clear, and they have continued in the most recent data. Las Vegas’ jobless rate was among the highest in the nation in June, reaching almost 6%. This represents the third-highest rate in the country among metro areas with at least 1 million population.
Not only that, the rising room rates in Las Vegas hotels are gaining more attention. Recently, a story arose of a guest at the Paris Las Vegas who was charged $50 to charge a laptop. The guest unplugged a mini fridge to do so, and later learned that unplugging the outlet came at a high cost.
international air passengers traveling to Sin City decreased 10% in June
This rise in costs has coincided with a downturn in travelers visiting Las Vegas. The number of international air passengers traveling to Sin City decreased 10% in June year-on-year. Overall visitation fell 11%, while hotel occupancy also declined to 79%, down from 85% last year.
Oliver Lovat, casino consultant and CEO of the Denstone Group, shared his thoughts. He said: “If you have less discretionary income you’re not going to take that trip to Las Vegas.” Lovat explained that consumer confidence directly correlates with Las Vegas success, if this is down then the gambling hub suffers.
Despite this, he said he doesn’t think anyone should panic. “It may be a drop in visitation, but it’s still strong historically,” he said. “So let’s not overreact.”
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