by Bill McBride on 9/14/2016 10:07:00 AM
Wednesday, September 14, 2016
Another update ... during the recession, I wrote about the troubles in Las Vegas and included a chart of visitor and convention attendance: Lost Vegas.
Since then Las Vegas visitor traffic has recovered to new record highs.
As of July, visitor traffic is running 1.7% above the record set in 2015 and on pace to be 10% above the pre-recession peak.
And convention attendance has returned too. Here is the data from the Las Vegas Convention and Visitors Authority.
Click on graph for larger image.
The blue bars are annual visitor traffic (left scale), and the red line is convention attendance (right scale).
Convention attendance is up 14.4% from the same period in 2015, after being up 14.0% in 2015 compared to 2014.
At this pace, convention attendance will set a new record in 2016, and be close to 7% above the pre-recession peak set in 2006.
There were many housing related conventions during the housing bubble, so it has taken some time for convention attendance to recover. But attendance has really picked up over the last two years.