Make Me Smart Checking the pulse of the Las Vegas economy
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Sep 30, 2025 David Brancaccio, the host of Marketplace Morning Report, shares insights from Las Vegas amidst a troubling tourism decline. He reveals the impact on local businesses, highlighting interviews with owners like Wani Romero detailing decreased sales. The conversation explores who is avoiding Vegas—especially Californians, Canadians, and visitors from China—due to economic and geopolitical factors. With rising prices causing 'sticker shock' for tourists, Brancaccio paints a concerning picture of the city’s economy and its potential recovery.
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Convention vs. Leisure Split
- Las Vegas has a split economy: conventions are strong while leisure tourism has softened.
- That divergence hides broader weakness in discretionary spending.
Three Cs Cooling Demand
- International visitors from California, China, and Canada have declined and are squeezing Vegas tourism.
- Discretionary trips like Vegas are cut first when households tighten budgets.
Local Coffee Owner's Split Results
- Wani Romero, who owns seven coffee shops, reports downtown sales down 30% for months.
- Her convention-adjacent stores still perform well while tourist-dependent locations suffer.