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Nevada's Economy: How Tourism is Contributing to Nevada's Economic Recovery

NveconAs we wrote several months ago, the Nevada Tourism industry saw a deeper recession, and segments of it have been slower to recover than the U.S. economy as a whole. Nonetheless, its dominance of the Nevada economy means that its recovery remains highly important to economic growth in the Silver State. How much is tourism contributing to Nevada's economic recovery? Considerably more than it seems.

Several factors likely contributed to the sharp decline in Nevada tourism during the Great Recession of 2007-2009. As we explained last month, the West generally saw a deeper recession and a slower recivery than the U. S. as a whole. U.S. employement fell by 6.4 percent from its peak to its bottom. Declines were much sharper in the West.

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Timely, relevant updates and reports on the economy and commercial real estate world, with focus on the Utah, Nevada, Washington and Idaho markets.

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