A new report shows that tourism to Las Vegas slumped last year, reversing a post-pandemic trend. The report, from the Las Vegas Convention and Visitors Authority (LVCVA), shows over 35.4 million people visited the city in the first 11 months of the year, a year-on-year drop of nearly 7.4%.
Key Takeaways
- Visitor volumes slumped by more than 7% throughout 2025, according to figures posted by the LVCVA.
- The figures highlight a major drop in international travel, with affordability also impacting the tourism sector.
- Despite declines, gaming and tourism executives say long-term demand remains strong in Las Vegas.
According to The Center Square, the slowdown comes after a period of recovery that saw the city bounce back from a low of just 19 million visitors in 2020. Based on current monthly averages, 2025 is expected to close at roughly 38.6 million visitors, reversing that upward trend.
The decline has also affected hotel performance. Average daily room rates fell 5% year-over-year, while revenue per available room dropped 8.5%.
The LVCVA cited a sharp fall in international travel as a key factor, estimating a 24% decline in Canadian visitors, historically Las Vegas’ largest international market. The authority also raised concerns about proposed federal policies, including a $250 Visa Integrity Fee for travelers from certain countries, which it warned could further discourage overseas visitors.
“Las Vegas is often a reflection of the broader U.S. economy,” LVCVA wrote to The Center Square. “Because we operate at high volume across every consumer segment, shifts in spending and behavior tend to surface here first.”
Despite the slowdown, the LVCVA also said there was cause for optimism in 2026, due to major sports events such as WrestleMania 42, the Las Vegas Grand Prix, and the 2026 World Cup.
Enjoying Covers content? Add us as a preferred source on your Google account
Industry leaders focus on value and perception
As tourism numbers fall, gaming and tourism executives say addressing concerns around cost and value has become a priority.
In a recent public forum, the LVCVA's Chief Executive Officer, Steve Hill, said resort operators are increasingly sensitive to affordability issues, at a time when consumer confidence remains uncertain.
Executives from several major Strip operators echoed that view at the same event, focusing on the need for guests to feel they are receiving fair value for what they pay.
MGM Resorts International executives said the company has been reviewing pricing and guest experience across its Strip properties, although they say that overall demand for Las Vegas remains healthy. The Chief Executive Officer of MGM, Bill Hornbuckle, has told regulators he sees no weakness in the city’s convention and event business, citing strong attendance at major events.
Longer term, industry veterans argue that Las Vegas must continue balancing gaming with non-gaming attractions to stay competitive, a strategy that has shaped the Strip for decades.
With gaming now accounting for just over a quarter of Strip revenue, tourism leaders say maintaining that broader value proposition will be critical as the city works to regain momentum.
