Nevada's Tourism Industry Facts directly accounts for 276,300 job in Nevada and with supporting positions included, more than 450,000 Nevadans earn a living as a result of tourists visiting our State. That's approximately 1 of every 3 residents who earn a combined $20 billion in wages each year.
More than $75 billion is generated as a result of Nevada's tourist industry, which is roughly 45% of the state's aggregate output. Nevada relies more on tourism than Alaska does on oil, Wyoming does on coal mining or New York City does on the financial sectors; Las Vegas – the state’s largest economic center – is more dependent on tourism that Detroit is auto manufacturing, Seattle is on aerospace or Nashville is on music and entertainment.
The economic impacts of COVID-19 could potentially eliminate 320,000 jobs accounting for $1,300,000,000.00 in wages paid each month. While these job loses were mitigated in part by companies continuing to pay idle employees, such solution has given way and thousands of Nevadans have been left unemployed.
In addition to residents, Nevada's state and local governments were also financially devastated by the pandemic. State and local governments are expected to lose around $1.0 billion from notable tax revenues sources, including: $500 million in hotel room taxes, $380 million in gaming taxes, $73 million in entertainment taxes, $46 million in local payroll taxes, and $19 million in local business taxes.
These tax revenues losses (e.g., sales and use taxes) impact the state’s general fund and ability to provide statewide programs and services, and the industry plays a vital role at the local level, including funding for critical services such as education, transportation and public safety.
We must ensure Nevadan's get back to work and our state and local governments get back on track.