Las Vegas Economy
Las Vegas Economy
Las Vegas is among the largest cities in the United States. The Las Vegas economy is driven by tourism, gaming, retail and dining industry. The real estate sector is also emerging as a major player in the Las Vegas economy. Tourism industry is marketed and promoted by the Las Vegas Convention and Visitors Authority, a county wide agency. It is the most important sector in economy of Las Vegas. More than 37 million tourists visit Las Vegas every year. The tourism industry contributes a whooping US $33.7 billion to the economy. Due to tourism the service and hospitality sector has also grown. There are many hotels, restaurants and tour agencies in this sector. The gaming industry amounts for around 20 percent of the jobs. The gaming industry include Las Vegas casinos which are famous all over the world. Las Vegas is called the “Gambling Capital of the World”. Many tourists visit Las Vegas just for the Casinos. Las Vegas is also famous for shopping. This is why the retail sector is on a high. World class retail chains are in Las Vegas. The real estate of Las Vegas has attracted a lot of international investors and their money. It is predicted that the Las Vegas real estate sector will grow at a rate of 200% in next eight years. All this have made Las Vegas a major economic hub.
