Las Vegas Tourism Slumps: Visitation Falls 7.5% in 2025

Las Vegas tourism took a significant hit in 2025. A new report shows visitation fell nearly 8% for the year, cutting visitor spending by $4.3 billion. Applied Analysis principal Jeremy Aguero presented the findings to the LVCVA Board of Directors this week. He had warned a year earlier that consumer stress could pressure tourism across the US. Despite fewer visitors, spending per trip barely changed from 2024. The report also highlighted a record year for local gaming revenue. It paints a mixed picture for the destination's economy heading into 2026.

Visitation and Air Travel Both Decline in 2025

Overall visitation declined every month compared to 2024. The city recorded 38.5 million visitors for the year. That figure marks a 7.5% drop from the prior year, the lowest visitor count since 2021's 32.2 million. Las Vegas lost roughly 3.1 million visitors compared to 2024.

Air travel data reflected the same downward trend. Domestic passenger traffic at Harry Reid International Airport fell 5.9%, while international traffic dropped 7.4%. Monthly declines varied throughout the year. July saw the steepest drop, falling 12%. February and June followed closely, down 11.9% and 11.3%. The spring and fall months showed greater resilience overall. Aguero linked the slowdown to broader economic pressures.

Total Spending Drops, But Per-Trip Spending Holds Steady

Total visitor spending reached $50.8 billion in 2025, down from $55.1 billion recorded in 2024. It still exceeds the $51.5 billion spent in 2023.

The drop stems from fewer visitors, not reduced spending habits.

Average spending per trip held nearly steady year over year. Visitors spent an average of $1,318 per trip in 2025. That compares to $1,322 per trip in 2024 and $1,261 in 2023. Aguero called the steady per-trip figure notable. "That's remarkable for us overall, given some of the softness we saw," he said. Leisure visitors spent $1,230 per trip during the year. Convention attendees spent considerably more, averaging $1,795 per trip. Spending on sporting events nearly doubled compared to 2024.

Conventions Hold Steady as Gaming Revenue Hits Record

Convention and trade show attendance stayed relatively stable in 2025. The segment hosted six million attendees for the year. That marks a marginal 0.1% decrease from 2024. Convention visitation has plateaued since 2023, the report noted. Gaming spending told a different story entirely. It recorded the largest dollar increase of any category. Gaming spending rose by more than $27 per visit, an 11.2% increase from 2024. Southern Nevada also set a gaming revenue record.

"Notably, despite the visitation slowdown, southern Nevada set its fifth consecutive record for annual gaming revenue, a $13.7 billion total, propelled by locals establishments," the report said. Sporting event spending rose $10 per visit, up 81.7%. Recreational activities and paid attractions also posted solid gains.