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When most people think of Las Vegas, images of vibrant casinos, bustling hotels, and world-class entertainment might come to mind. Beyond the glitz and glamour, though, is a robust economy driven by diverse industries and major employers. As you explore the intricacies of Sin City’s economic landscape—which is supported by a skilled workforce drawn to the excitement and reasonable cost of living in Las Vegas—you’ll uncover the key players shaping its financial heartbeat and the industries contributing to its vitality.
Las Vegas Economy at a Glance
The economy of Las Vegas is driven by major industries such as tourism, gaming, entertainment, health, medicine, business information technology, and clean technologies. The city of Las Vegas, known as the entertainment capital of the world, offers a vibrant economic landscape with diverse job opportunities. With an unemployment rate of around 5.1%, skilled professionals continue moving to Las Vegas for employment across its significant sectors. Despite the challenges posed by the pandemic, the city has maintained its status as a hub for entertainment and tourism.
Moreover, the city provides affordable housing options that belie its status as a global tourist destination. The average listing price for homes in Las Vegas typically falls just below $500,000, with tons of options from the $200s to the $600s. The city’s median household income exceeding $68,000 further contributes to its appeal as a place to live and work. With its strong presence in industries like gaming, tourism, and healthcare, Las Vegas offers a dynamic environment for both businesses and residents alike.
Top Employers in Las Vegas
Among the top employers driving the economy in Las Vegas are companies in the national defense sector, such as Nellis Air Force Base. This base, bordered by North Las Vegas and Sunrise Manor, plays an essential role in providing employment opportunities in the city. Additionally, the Las Vegas Metropolitan Police Department greatly contributes to the job market, ensuring the safety and security of residents and visitors alike.
The vibrant tourism industry in Las Vegas is also a major source of employment, with various hotels and casinos, including Flamingo Las Vegas and MGM Grand Hotel and Casino, employing thousands of individuals. These establishments offer not only jobs but also drive the local economy through tourism and entertainment. The diverse range of job opportunities provided by these top employers reflects the dynamic economic landscape of Las Vegas, offering a mix of industries for job seekers to explore.
Additional Large Companies in Las Vegas
- Golden Nugget Las Vegas
- Stratosphere Hotel Casino
- Summerlin Hospital
- Sunrise Mt. View Hospital
- Sutherland Global Services
- Valley Hospital Medical Center
- Asurion Insurance Services
- Cox Communication
Information via City of Las Vegas Community Dashboard
Key Industries in Las Vegas
Las Vegas boasts a diverse economic landscape with several key industries, not only including tourism, gaming, and entertainment—as befits the Entertainment Capital of the World—but also health and medicine, business information technology, and clean technologies, offering residents a wide array of employment opportunities. The tourism, gaming, and entertainment industries, concentrated on the Strip and in Downtown Las Vegas, are major drivers of the economy. They provide over 300,000 jobs with an average annual earning per job of nearly $40,000.
The health and medicine sector in Las Vegas offers about 90,000 positions in health and medical services, demonstrating a significant increase of over 42% since 2010. Additionally, the city’s business information technology ecosystem is thriving, with more than 54,000 employees in various IT roles, such as customer service representatives, software developers, and laborers.
Top Industries in Las Vegas Metro Area
- Leisure & Hospitality (~300,800)
- Trade, Transportation, & Utilities (~215,000)
- Professional & Business Services (~164,100)
- Education & Health Services (~125,200)
- Government (~123,300)
- Construction (~87,500)
- Financial Activities (~59,900)
- Other Services (~33,900)
- Information (~14,200)
Information via the U.S. Bureau of Labor Statistics, as of May 22, 2024
Las Vegas Economy Facts and Figures
Explore Las Vegas’s economic landscape with key facts and figures that showcase its stability and diversity. The city boasts a decreasing unemployment rate and a median household income exceeding $68,000, reflecting economic strength.
The local economy emphasizes new developments and business conventions to diversify beyond gaming, fostering job growth across various sectors. The city aims to attract a range of industries to guarantee long-term economic stability and prosperity, and the schools in Las Vegas are equipped to prepare students to contribute. The metropolitan area’s focus on economic diversification aligns with initiatives to expand beyond traditional tourism and entertainment offerings.
As the city continues to evolve, local initiatives underscore a commitment to sustained economic development and growth in Las Vegas.
A Thriving Las Vegas Economy
The Las Vegas economy is thriving with diverse job opportunities in key industries such as tourism, gaming, and entertainment. With more than 300,000 jobs in this sector alone, job opportunities are abundant in Las Vegas. The city is a major hub for job growth and economic development, making it an attractive destination for both residents and visitors alike.
