By the numbers: 2025 ended softer than the boom years
Las Vegas is still drawing crowds—just not as many as the recent post-pandemic highs.
New year-end figures from the Las Vegas Convention and Visitors Authority (LVCVA) show 38,545,700 visitors in 2025, down 7.5% from 2024. December closed the year with 3,091,500 visitors, a 9.2% year-over-year drop.
Hotels stayed busy, but not at peak levels. Citywide hotel occupancy averaged 80.3% in 2025 (down 3.3 points), with ADR at $183.52 and RevPAR at $147.30. Importantly for the “Vegas is too expensive” narrative: even with declines, the LVCVA noted ADR/RevPAR remained among the strongest on record—third highest behind 2024 and 2023.
Air travel also cooled. The LVCVA summary lists 54,988,547 total enplaned/deplaned passengers in 2025, down 5.9%year-over-year.
The price problem: “value” is the new battleground
The loudest complaint from would-be visitors isn’t that Vegas has nothing to offer—it’s that the bill doesn’t match expectations.
Tourism voices inside Las Vegas have been unusually blunt about it. One Review-Journal report describes tourism experts urging operators to consider a moratorium on resort fees, arguing many consumers believe Las Vegas “isn’t the value it once was.” The same report notes resort fees commonly run $35 to $55 per night on the Strip.
That “value gap” shows up in performance patterns: weekends remain relatively strong, while midweek softness suggests some travelers are trimming trips, traveling less often, or substituting other destinations. (In 2025, weekend occupancy averaged 88.8% vs. 76.6% midweek.)
Why tourism dipped: affordability, confidence, and international headwinds
Las Vegas’ slide in 2025 wasn’t driven by one factor—it was a stack of pressures.
A Reuters report on the Las Vegas Grand Prix framed 2025 as a downturn shaped by consumer sentiment—concerns about the economy, jobs, and affordability—after blockbuster comparisons in 2023–24 (including the Super Bowl era of event-fueled demand).
International travel has been another weak spot. The Nevada Independent and the Associated Press both reported that international visitation fell sharply, with particular attention on Canada, historically one of Las Vegas’ most important overseas feeder markets.
Conventions are holding the line
If leisure travel is price-sensitive, Las Vegas’ meetings and conventions machine has been the stabilizer.
The LVCVA’s year-end data shows 5,988,200 convention attendees in 2025, essentially flat vs. 2024. In other words: Las Vegas lost some discretionary leisure volume, but it kept much of its business-travel engine running.
That matters because conventions smooth out the calendar—especially midweek—and help hotels defend rates. It’s one reason ADR can stay relatively elevated even when visitor counts slip.
Gaming revenue didn’t collapse—but the Strip plateaued
Here’s the nuance many casual observers miss: fewer visitors doesn’t automatically mean casinos are in free fall.
The LVCVA’s executive summary lists Clark County gaming revenue at $13.688B in 2025 (up 0.9%) while Las Vegas Strip gaming revenue was essentially flat at $8.815B year-over-year.
The Nevada Independent’s reporting also emphasized a split market: the Strip struggled more, while some locals-oriented areas performed better.
What “current” looks like in early 2026: cautious optimism, big-event strategy
So, are people “avoiding” Las Vegas now?
A better way to put it: Las Vegas is still huge, but it’s no longer coasting on post-pandemic momentum. 2025 ended with clear declines across multiple indicators, yet the destination remains one of the world’s largest tourism machines, with high occupancy and premium pricing power compared to most markets.
Looking ahead, local tourism leaders are leaning on major events and a strong convention calendar to restore demand in 2026. A Review-Journal report highlights expectations for increased trade show attendance at the Las Vegas Convention Center (including the return of ConExpo-Con/Agg) and a lineup of tentpole events through the year.
What it means for Canadians (including Northwestern Ontario travelers)
For Canadians watching from Thunder Bay and across Ontario, Vegas’ “value reset” cuts both ways:
- More promotions and deal-hunting opportunities may emerge if hotels compete harder for leisure travelers.
- But international travel sensitivity—including politics, exchange-rate pressure, and broader travel costs—can continue to suppress Canadian volume even if Vegas discounts selectively.
In practice: 2026 could be a year where flexible travelers (midweek, off-Strip, shoulder season) find better value than the headlines suggest—while peak weekends remain expensive.
Summary: Las Vegas tourism fell in 2025 as prices stayed high; conventions held steady and 2026 will rebound.
