Virus Outbreak-Nevada

FILE - In this Saturday, July 4, 2020, file photo, crowds walk along the Las Vegas Strip on the Fourth of July, in Las Vegas. Nevada officials say a record high in the daily number of positive COVID-19 tests in the state may be the result of people failing to wear masks and keep distances apart during the Independence Day holiday. (AP Photo/John Locher,File)

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.

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(3) comments

ocean

When the Democrats take control of any states its death for freedom and business. Nevada will never diversify its economy as no business in their right mind will open up in any state that is controlled by the Democrats. I started my first business forty years ago from scratch. Things are so corrupt, so bad in this country for business that i was forced out of California due to the corruption of government. At one time i had 250 employees in America..never again. Nevada was once a safe state for busienss but not anymore. Today its just my wife and i working our little business from the safety of our home. We are seriously looking to take our busienss and ourselves out of America for good to a country that values freedom.

Ginger

Any city that relies on nothing but casinos and tourism for revenue is not playing with a full deck. You would think that after 9/11 and the financial meltdown of '08 this city and state would have learned something, but nope 'Party on Garth'. And now there is as always nothing but whining and complaining.

Nevermore

There will be blizzard conditions in July and August before I take any vaccination.

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