Economists Assess Southern Nevada’s Economic Outlook for Coming Years

At a recent gathering hosted by UNLV’s Center for Business and Economic Research (CBER), economists offered a detailed forecast of Southern Nevada’s economic landscape for the upcoming year. The Economic Outlook event, held at the prestigious Fontainebleau Las Vegas, brought together notable economic minds to share their insights on the region’s future. Among the key speakers was Stephen Miller, head of research at CBER, who delved into the dynamic changes Las Vegas underwent post-pandemic, with a particular emphasis on notable increases in visitor numbers and gambling revenues. However, Miller cautioned that this upward trend might not sustain, hinting at a potential slow down in the near future.

Miller elaborated on the possible ripple effects a national economic slowdown could have on Southern Nevada’s tourism and gambling sectors. The Las Vegas Review-Journal reported his predictions: visitor numbers could decrease by 5.8% in 2025 and 6.9% in 2026, aligned with anticipated declines in gambling revenues by 5.4% and 4.6% respectively. The Federal Reserve’s efforts to curb inflation without triggering a recession were highlighted as a significant factor. As households deplete savings amassed during the pandemic and grapple with rising credit card interest rates amidst

Miller elaborated on the possible ripple effects a national economic slowdown could have on Southern Nevada’s tourism and gambling sectors. The Las Vegas Review-Journal reported his predictions: visitor numbers could decrease by 5.8% in 2025 and 6.9% in 2026, aligned with anticipated declines in gambling revenues by 5.4% and 4.6% respectively. The Federal Reserve’s efforts to curb inflation without triggering a recession were highlighted as a significant factor. As households deplete savings amassed during the pandemic and grapple with rising credit card interest rates amidst soaring prices, the local economy, heavily intertwined with national economic trends, could face minor setbacks.

Further discussions at the meeting shed light on the evolving job market in Nevada since the onset of COVID-19. While the hospitality industry, comprising hotels and restaurants, continues to lag in job recoveries, there has been noticeable growth in sectors like arts, entertainment, and recreational activities. This sectoral shift underscores a gradual transformation within Nevada’s economic framework yet leaves the state’s unemployment rate at 5.6%, noticeably higher than the national average. Miller emphasized that although hotels and restaurants haven’t yet reached pre-pandemic employment levels, other areas are compensating for this lag,