LAS VEGAS -- The record number of tourists visiting the Las Vegas Strip is seen as a positive sign by economists. In the past year, 39.7 million people visited the city to gamble, drink, and shop.
"They have really good deals," tourist Margarita Calvada said.
The message delivered at Thursday's Preview Las Vegas Conference was positive. Local economist Jeremy Aguero told local business owners the economy is better than it was one year ago, and much of that has to do with the Las Vegas Strip.
"We're seeing record-setting visitation, record-setting spending on retail, gaming hasn't come back as much as we'd like, but consumers are spending more on almost everything else that they do," said Jeremy Aguero, Applied Analysis.
Economists say with eight of the top 10 nightclubs in the United States located in Las Vegas, the nightlife is a big draw.
"We've looked into other vacations but we would have ended up spending the same amount of money but having less fun," tourist Justin Burrage said.
There's also reinvestment and renovation taking place on the Strip. MGM Grand has reinvested $420 million in improvements. The Linq project, a collection of about 20 restaurants and bars to be built on the east side of the Strip, has reinvested $550 million.
Las Vegas is also seeing other industries, such as online gaming, popping up. Economists say that wouldn't be possible if the Strip wasn't growing.
The Linq project has provided at least 3,000 construction jobs. Once it's up and running, it will provide 1,500 permanent jobs.
