A new analysis finds a steep decline in overall economic activity in 2025 was caused by a sharp drop in visitor numbers to Las Vegas.
Las Vegas experienced a significant decrease in economic activity in 2025 due to a notable decline in visitor numbers. Throughout the year, the city saw 38.5 million visitors, marking a 7.5% decrease from 2024 and representing the lowest count since the post-pandemic recovery period began.
The decrease in visitation to Las Vegas has had a substantial impact on the city's economy, with the total number of visitors dropping significantly compared to the previous year. This decline in tourism has been a major factor contributing to the $4.3 billion loss in economic activity experienced by the city in 2025.
