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The Las Vegas Convention and Visitors Authority regularly reports on the market and economic conditions in Las Vegas. They have released their February data and we have compiled it into an article for you to check out.
Tourism - According to the Las Vegas Convention and Visitors Authority, Las Vegas took in over 3 million visitors in February 2007, a rise over last year by 1.3%. The number of conventions being held increased by 24% and the average hotel room rate rose by 13%. This was the first year that over 3 million people visited Las Vegas in February.
Air Travel - In February 2007 3.4 million people passed through McCarran International Airport, this is a rise of 4.3% over last year.
Gaming - In February 2007 the State of Nevada took in $1.055 billion from gaming winnings. Casinos in Clark County (Las Vegas) won $901.8 million.
Population and Market Growth - In the first two months in 2007, 19,000 people moved to Las Vegas. The U.S. census bureau ranks Las Vegas as the 5th fastest growing city in the nation. From 2000 until 2006 Las Vegas had a 29% growth rate, which represents 401,000 residents.
Employment - In February 2007 13,000 new jobs were added to the Las Vegas economy. Las Vegas unemployment rate fell to 4.3%. The state of Nevada exported $5.49 billion worth of goods to over 157 countries.
Housing and Real Estate - 2,600 new homes were sold in Las Vegas in February 2007. The median price of a new home in Las Vegas was $321,555. Las Vegas is home to two of the top 5 housing developers in the country.
Thanks for your interest and if you have any questions or comments feel free to call or write us:
Phone: (702) 444-4321
Email: info@one-lasvegas.com
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