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Analyst reflects on economic impact to Las Vegas area after postponement of NAB show

Analyst reflects on economic impact from postponement of NAB show
Posted at 7:44 PM, Sep 15, 2021

LAS VEGAS (KTNV) — A surge in the Delta Variant has forced the National Association of Broadcasters to instead have an in-person conference next April out of safety concerns. The NAB made the announcement Wednesday morning.

Jeremy Aguero, the principal analyst at Applied Analysis, says missing out on the more than 90,000 visitors in the Las Vegas area will take a toll on its economy.

RELATED: NAB cancels 2021 Las Vegas show due to Delta variant, COVID-19 surge

“Your typical visitor spends $800-$850 per person, per trip for a typical convention, the average traveler spends about $1,000,” said Aguero.

He says $1,000 is just the minimum. Aguero says you also need to take into consideration the amount that is spent in restaurants, grocery stores, and retail.

“Anytime that you have a convention that you lose 90,000 convention travelers, it is going to be a significant impact on your economy,” Aguero said.

Our market was designed to host large conventions like NAB, says Aguero, but when you bring COVID into the mix it’s a whole different story.

“They draw attendees from 160 countries. As a matter of fact, 26% of attendees come from international points of origin, so that’s a very significant hit but honestly safety has to come first,” Aguero said.

The annual trade show was scheduled to happen from October 9 through Oct. 13 in Vegas. Aguero says the hospitality industry will be taking the biggest hit. More than $100 million was taken out of the local economy.

“Will our hotel and operators find a way to make up some of it? Of course, they will, they are as resourceful as anybody in any industry in the United States,” said Aguero. “Is it going to have an impact? You are darn right it is.”

Convention and show organizers say if cases continue to increase, Las Vegas can see more cancellations down the road.

The 2022 NAB show is now planned for next spring in April.

The trade group says they are working on providing details about virtual options for this year’s show.