Increases last year in the Las Vegas meetings and conventions business slightly lagged behind improvement in total visitation to the city. Nevertheless, the major tradeshow destination had its best year since 2008.
In 2012, 4.9 million people attended tradeshows, meetings and conventions in Las Vegas, according to a report released this week by the Las Vegas Convention & Visitors Authority (LVCVA). That is a 1.6-percent increase over 2011 and the highest business-related attendance in four years.
Total visitation to Las Vegas was up 2.1 percent to 39.7 million, an increase of 800,000 over 2011. Those nearly 40 million visitors generated $40 billion in economic activity.
The total number of business-related events—all tradeshows, meetings and conventions—was up substantially more: 21,615 total events, 13.6 percent more than 2011’s 19,029. Just as with the total business-related attendance numbers, last year’s was the highest figures since 2008.
“We are encouraged to see positive signs for continued growth for the industry,” LVCVA President and CEO Rossi Rallenkotter says in a statement. “Las Vegas is well positioned for continued growth in 2013.”
Average hotel occupancy for Las Vegas was up 0.6 percent in 2012 to 84.4 percent. The average daily room rate rose $3 to $108 last year. Finally, gross gaming revenue for all of Clark County, Nevada, rose 1.9 percent to $9.4 billion while gaming activity on the Las Vegas Strip was even more substantial, up 2.3 percent to $6.2 billion in 2012.