How Las Vegas’ Depends On Conventions to Drive It’s Economy

Posted on — By Brian Sanchez

The city’s attractiveness and its many sunny days help bring in many attendees to Las Vegas every year. According to the Las Vegas Convention and Visitors Authority (LVCVA), in 2016 alone, convention and meeting attendance increased by 7.1 percent to a record 6.3 million attendees. This surge in attendees helped create an estimated 54,800 jobs, paying $2.3 billion in wages and salaries.

Conventions are one of the biggest contributors that help pay for our roads, parks, school-construction and teacher’s salaries.

 

 

What makes Vegas the ideal convention location?

Space, space, and more space is what makes Vegas a great place for any type of convention. Las Vegas is home to three of the 10 largest convention venues in the country. The three venues combined, come in at a total of more than 11 million square feet of exhibit and meeting space. As the number of convention space continues to grow, the number of visitors coming to Las Vegas continues to grow.

 

 

According to the LVCVA, the Las Vegas Convention Center is reaching its capacity. This is one of the problems Las Vegas is currently having. CES, a global consumer electronics trade-show, limited the number of registrations it would allow. The loss of one mid-size show would result in a loss of $70 million in local revenue.

How can Las Vegas keep up?

Property owners should consider having adequate convention space when designing new hotels and casinos. For example, MGM Resorts International will be spending $154 million dollars to expand the Aria’s convention space by 200,000 sq. ft. The Las Vegas Convention Center Project is also joining the movement to add more convention space as well. It is a project that will be a major expansion and renovation of the Las Vegas Convention Center consisting of four phases. This project will help create thousands of jobs and ensure future growth.