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Tuesday, 06 February, 2018, 12 : 00 PM [IST]

Las Vegas to invest USD 14 bn in MICE infrastructure

In order to stay competitive on the global front, Las Vegas, the entertainment capital of the US, will be investing approximately USD 14 billion in upgrading and expanding their MICE and entertainment facilities. This will entail big investments in renovating the existing convention and exhibition spaces, and also building new spaces in the city.  

After the completion of these new projects, Las Vegas Convention and Visitors Authority (LVCVA), the official destination marketing organisation for the city, expects an annual incremental economic impact of USD 810 million for the city by attracting an additional 600,000 visitors each year into the city.

In 2017, Las Vegas had received 42.2 million visitors and 90% of the overall visitation came from  international markets which makes up to 31% of total direct spending. India ranks 12th in terms of international visitors, as Las Vegas welcomed more than 40,000 guests from India in 2016. Canada, Mexico and UK are among the top three countries as source for international travellers to Las Vegas, followed by Australia, Japan and China.

Kala Peterson, International Public Relations Manager, LVCVA stated that the priority for the tourism promotion agency is to maintain the edge as a preferred destination for business and leisure for international travellers. “Although Las Vegas is known as a world’s entertainment capital, the revenue growth from the non-gaming activities has been consistently showing growth over the gaming revenues for the city for the last 10 years,” said Peterson.
 
Las Vegas welcomed their first sports franchise Vegas Golden Knights last year. By 2020 they will have their own NFL team called the Las Vegas Raiders.  

One of their new venues is the T-Mobile arena featuring 20,000 seats with its own night club and is home to the Billboard Music Awards, entertainment programmes and concert shows taking place around the year. Adjacent to the T-Mobile is The Park which has recently introduced a unique dining concept.
 
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