The number of international visitors to Las Vegas in 2022 will be dominated by Canada, Mexico and the United Kingdom
In 2022, the U.S.'s southern and northern neighbors Mexico and Canada accounted for more than half of Las Vegas' international tourist arrivals.
The Las Vegas Convention and Visitors Authority (LVCVA) recently released data showing that 3.4 million visitors traveled to U.S. casino hubs from outside the United States last year. Of these, Mexico and Canada received a combined 1.87 million visitors, while the United Kingdom ranked third with 482,380 visitors.
Proximity aside, Canadian and Mexican tourists are understandably enthusiastic about Las Vegas. The latter doesn't have traditional American-style casinos, and while Canada does have its share of venues, they don't compare to what you'll find in Sin City. The same applies to the UK.
Last year marked the third consecutive year that Mexico led the list of countries visiting Las Vegas. Canada held this position between 2010 and 2019.
Las Vegas Visit Trends
Mexico is Latin America's second-largest economy, and its economy is often modeled after the United States, largely because of its geographical proximity. This means that if the United States avoids a recession, Mexico could achieve the same feat and potentially support the country's regular visits to Las Vegas.
Las Vegas is also accessible from major Mexican cities, as several airlines offer direct flights to Sin City from Mexico City, Guadalajara, and Monterrey. Tourism to Las Vegas from other parts of Latin America is likely to increase in the future. Colombia-based Avianca will launch flights from El Salvador to Las Vegas next month. The move is intended to expand access to U.S. gaming hubs for visitors from across South America.
Against this backdrop, visits to Las Vegas from UK residents may soon increase, with Virgin Atlantic expected to resume direct flights from Manchester to Las Vegas sometime in the next few months Serve. This is potentially significant as Greater Manchester has a population of over 2.7 million people.
LVCVA data shows the top five countries for visitors to Las Vegas in 2022 are Australia and Germany, which together account for 8.2% of total visitors.
China still has a long way to go before it can regain its status as a major contributor to Las Vegas tourism. Chinese citizens have yet to return to the United States in large numbers due in part to coronavirus restrictions, and the outbreak has forced some Asian airlines to suspend flights from China to Las Vegas that have not yet resumed.
Foreseeable beneficiaries of international visits
While Las Vegas visitors from other countries tend to visit different parts of the city, the likelihood of them staying on the Strip is high. That's an advantage for MGM Resorts International (NYSE: MGM ) and Caesars Entertainment (NASDAQ: CZR ), the two largest operators on the Las Vegas Strip .
Las Vegas is a key driver of stock performance for both companies. In a note to clients on Tuesday, Jefferies analyst David Katz highlighted the "Caesar Las Vegas" connection.
"We now expect our Las Vegas operations to generate revenue of $1.126 billion and adjusted EBITDAR of $522.6 million," Katz wrote. to $1.09 billion and $505 million."
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Source: www.casino.org
