LAS VEGAS (FOX5) -- John Restrepo is the principal of RCG Economics, a valley firm that provides strategic research and economic forecasts for municipal governments as well as the gaming and hospitality industry.
In his words, Las Vegas will get through this but it will take sustained “time, talent, treasure, and political will” to get there.
He says an economic recovery will take, at best, 18 months, and at the longest 36 months after a vaccine comes on the market.
The more realistic time is two years and will depend on the world, national, and regional economic health.
He says Las Vegas needs to continue to focus on reinventing itself to diversify its economy so it’s not so vulnerable during downtimes. He says strides were made before the pandemic, but it’s going to take a while.
He singled out tourists in particular during the initial reopening for not wearing masks and social distancing but he says Las Vegas is getting a handle on that now.