Canadian Boycott Triggers Sharp Decline in Las Vegas Tourism
Las Vegas is currently facing an unprecedented slump in tourism, with visitor numbers plummeting over 11% year-over-year, as reported by the Las Vegas Convention and Visitors Authority. This drastic decline is largely due to a Canadian travel boycott sparked by bilateral trade policy disputes.
Canadian spending, a significant contributor to the Las Vegas economy, has seen a sharp downturn. Last year, Canadians injected $3.6 billion US into the local economy, supporting approximately 43,000 jobs. This reduction in spending is now being felt by major resort operators.
Caesars Entertainment CEO Thomas Reeg has identified the decrease in Canadian business as a significant factor in the company’s disappointing second-quarter results. “International business, particularly Canadian, is softer,” Reeg informed stock analysts, shedding light on the decrease in room occupancy over the past three months.
Local union leaders have coined the term “Trump slump” to describe the drop in Canadian tourists. This has resulted in a surge of unemployment in the city, reaching 5.8% in June, ranking it third-highest among major U.S. metropolitan areas.
The Las Vegas Convention and Visitors Authority attributes the decline to persistent economic uncertainty and weaker consumer confidence. Some Canadian travelers are actively choosing to bypass U.S. destinations as a form of economic protest.
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Source: CBC News