Las Vegas tourism officials believe the federal Travel Promotion Act legislation that was signed into law last week will lead to a marked growth in international visitors, one of the gaming industry’s few positive market segments in the challenging economic climate.
Under the legislation, signed into law by President Barack Obama, a program will be created that will allow the United States to advertise the country as a destination for international travelers. It creates a public-private partnership for travel promotion that is partly funded by a $10 fee paid by international travelers.
The idea for the Travel Promotion Act originated from the 1995 White House Conference on Tourism. It was revived after the economic downturn saw the United States lose some 68 million international visitors, which accounted for losses of $509 million in consumer spending, $32 million in tax revenue and 441,000 jobs, according to a study done by Oxford Economics.
The same study found the act could potentially draw 1.6 million new international visitors to the United States, which would generate $4 billion in new spending.
Las Vegas tourism officials hope to capture some of those visitors and market separately to potential international visitors as well.
The convention authority estimated the act would increase international visitation to 20 percent of Las Vegas’ total market share. In addition, while Oxford believes the act will be responsible for creating 40,000 tourism jobs nationally, the convention authority estimated an increase in international visitation could create another 12,000 jobs in Southern Nevada.
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