LAS VEGAS MARKET SET FOR EXPANSION

Andrew J. Wein - Dec 12, 2011
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The gambling capital of the world is set to increase the amount of people it attracts through aggressive marketing and a cunning business plan to bury the recession in history.

In times of recession, people cut down on the luxury items they can do without, whether by choice or necessity. Gambling is clearly an activity which fits this particular description and Las Vegas clearly suffered as a result.

However, its losing streak could soon end and the tourists should start coming back, with numbers even exceeding pre-recession levels. The third quarter of 2011 showed a 19th consecutive month of growth and the signs are that this trend is set to continue.

Occupancy rate in Las Vegas hotels has risen to 85.2%, which is more than 20 points above the national average. A new marketing campaign has been aimed mostly at foreign visitors. They currently account for 18% of overall visits, yet the aim is to boost this percentage up to 30% over the next decade.

The reason is obvious: that international visitors tend to spend more and always need somewhere to stay. Logically, more visits from abroad would lead to an increase in the 39 million visitors Las Vegas welcomes on an annual basis anyway.

A new aggressive marketing campaign under the iconic slogan “whatever happens here, stays here” is up and running and is expected to last for 3 years. Growth is expected in 2012 yet ambitious locals want to push the rate of growth up. The slogan was chosen to emphasize the exclusive nature of the city and to encourage people to gain memories of having visited such a famous place.

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