Las Vegas sets tourism spending record in 2024 despite dip in gaming revenue

Southern Nevada’s tourism industry posted record visitor spending for the third consecutive year in 2024, reaching $55.1 billion, up 7% from 2023, even as gambling expenditures declined, according to a new report released by Applied Analysis for the Las Vegas Convention and Visitors Authority. 

The report said the region welcomed 41.7 million visitors last year, a 2.1% increase from 2023, approaching pre-pandemic levels of 42.5 million seen in 2019. March marked the busiest month, drawing nearly 3.7 million visitors.

Per-visitor spending reached an all-time high of $1,322—up 4.8% from the previous year and 52.6% above 2019 levels. Most spending categories saw gains, with shopping posting the largest increase per visitor at 12.8%, rising to $281. However, gaming spend per visitor declined by 1.4% to $244.

Gaming revenue on the Las Vegas Strip fell $88.2 million, or 1.0%, year-over-year, with a sustained slowdown in the latter half of 2024 resulting in six consecutive months of declines, the report said.

Major events helped boost tourism throughout the year. Super Bowl LVIII drew 325,000 visitors, while the Las Vegas Grand Prix and Neon City Festival attracted crowds downtown. Attendance at the National Finals Rodeo surpassed 170,000. The new Durango Casino and Resort and Fontainebleau also completed their first full year of operations.

Convention and meeting activity held steady, with 6 million attendees in 2024—a 0.1% increase over the prior year but still about 10% below 2019 levels. Convention visitors, who typically spend more than leisure tourists, averaged $1,681 per trip. Their spending generated $10.1 billion in direct economic output, supporting 46,200 jobs and $2.7 billion in wages.

The Las Vegas Convention Center hosted 47 events with a combined attendance of 1.1 million, accounting for 18.2% of total regional convention participation.

Tourism directly supported 252,610 jobs in the region, a 1.6% increase from 2023. Including indirect and induced impacts, total employment related to the industry reached 385,330 jobs. Wages tied to the tourism sector totaled $21.3 billion, comprising 30% of all wages paid in southern Nevada in 2024.

Total economic output generated by visitor spending rose 3% to a record $87.7 billion, representing 30.9% of the region’s estimated $178.4 billion gross domestic product.

“Although these two concepts are not perfectly aligned, the relationship illustrates the relative size and significant importance of Southern Nevada’s tourism industry to the regional economy,” the report stated.