Las Vegas Tourism Suffers Sharp Decline

Key Points

• Las Vegas tourism saw a 7.5% drop in visitor arrivals in 2025, the worst non-pandemic year on record.
• Declines in Canadian visitors and reduced airline capacity, especially from Spirit and Canadian carriers, significantly contributed to the slump.
• Hotel occupancy and revenue fell, but recent data shows signs of stabilization and an increase in tradeshow attendance.

Summary

Las Vegas tourism experienced its sharpest non-pandemic decline in 2025, with visitor arrivals dropping 7.5%. The downturn was driven by decreased travel from Canada, reduced airline capacity, and economic uncertainty causing travelers to cut back. While hotels and airlines suffered from lower occupancy and revenues, there are early signs of stabilization and a rebound in tradeshow attendance as the city moves into 2026.