In May, Clark County’s annualized convention attendance saw a 0.39 percent decrease from the previous month, putting the annualized total at 6.5 million. May marks the third annualized convention attendance decline in five months. However, when compared to May 2017, convention attendance is still up 3.8 percent. The annualized peak of 6.65 million convention attendees occurred in December 2017.
Convention attendance saw significant gains in 2016 with 10 months above 10 percent YOY growth. Through all of 2017, the YOY rate of growth had fallen drastically to 3.9 percent. During the first five months of 2018, attendance grew by an average 4.9 percent YOY. Demand growth is being limited by maxed-out capacities at Las Vegas’ various convention facilities. The good news: In June 2017, the Las Vegas Convention and Visitors Authority’s Board of Directors gave final approval for an expansion and renovation of the Las Vegas Convention Center, which will allow the city to host more conventioneers. The expansion is expected to be completed by 2022.
This chart is part of a monthly report by Las Vegas-based RGE Economics. To access the full report, visit thestatpack.com/blogs.