Las Vegas recovery marked by more tax revenue, government spending and visitors
Clark County, within which lies Las Vegas, expects to spend $1.7 billion in fiscal year 2022. Last year, the county allocated $1.5 billion in general spending. It also expects consolidated tax to increase by 20.0%. In 2021, visitor volume to the Las Vegas area increased by 69.4% to 32.2 million people. Visitation increased from 2020 before slipping in December 2021 due to Omicron concerns. While visitor volume recovered, January 2022 convention center attendance remains 57.4% below January 2020 levels.
COVID|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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