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Las Vegas Extends Formula One Grand Prix as Tourism Tumbles

Officials unveiled the sponsorship after successive monthly declines in visitor numbers alongside falling hotel occupancy to jump-start tourism.

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Overview

  • Visitor volume in June dropped 11.3% year-over-year, with international arrivals down 13% and hotel occupancy nearly 15% lower.
  • Visits from Canada, the city’s largest international market, plunged over 20%, and airlines reported about one-third fewer Canadian passengers in June.
  • LVCVA President Steve Hill blamed administration tariffs and international policy decisions for part of the slump, while union leaders cite immigration enforcement rhetoric and industry executives point to global economic softness and exchange-rate shifts.
  • Local hospitality workers report significant income losses as restaurant reservations decline, tips fall and some establishments cut hours or lay off staff.
  • The LVCVA board approved a $20 million deal to extend the Formula One race through 2027, and operators are boosting promotions and convention outreach to stimulate demand.