LAS VEGAS (FOX5) -- The Las Vegas tourism economy suffered about a $34 billion loss as a result of COVID-19, a new study found.

The findings were detailed in a new report by Applied Analysis for the Las Vegas Convention and Visitors Authority. The total economic impact of the pandemic on the tourism industry was estimated at $34 billion when accounting for direct visitor spending, suppliers and vendors and employee spending. It marks a 53.5% cut to the economy from 2019 to 2020.

"The economic impacts of tourism in Southern Nevada are driven by the spending from visitors on rooms, dining, shopping, local transportation and other activities and amenities during their stays," the report reads. "That spending directly supports a significant amount of employment, wages and economic activity."

The report also showed that the Las Vegas tourism industry suffered great employment loss; the industry lost more than 125,000 jobs, or about a third of the workforce.

Virus Outbreak Nevada

The Las Vegas Strip is deserted as casinos and other business are closed because of the coronavirus outbreak, Tuesday, April 14, 2020, in Las Vegas. (AP Photo/John Locher)

"The COVID-19 pandemic left an indelible imprint on the Southern Nevada tourism industry and the broader regional economy," the report said. "Compared to recent recessions, the COVID-19 recession’s magnitude was unprecedented in its depth and speed."

According the the report, the only industry to completely rebound, even exceeding pre-pandemic levels, was trade, transportation and utilities as of March 2021. The leisure and hospitality industry was still down 30% from before the COVID-19 pandemic.

READ THE FULL REPORT HERE

COVID Impact on Tourism Industry FINAL c415242c-e6f4-4bf5-91ea-98496d1afe3a by FOX5 Vegas on Scribd

Copyright 2021 KVVU (KVVU Broadcasting Corporation). All rights reserved.

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(3) comments

00

Its about to get worse if people do not take this virus seriously and get vaccinated. The casinos should be the first to make it mandatory for all guests visiting to show proof upon arrival. No unvaccinated should be permitted not he grounds because if they want to rescue the business then stopped helping the spread and start stopping it before we shut down again!

Nevermore

Move to Australia, Sean. They've gone the way of 1984.

Silvermane

Knock it off. People who choose to be vax'd have nothing to worry about from the unvax'd. People who choose not to be vax'd accept the responsibility of their decision and it's none of your business.

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