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Why experts say a COVID-19 vaccine could help cure the Las Vegas economy

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Posted at 12:51 PM, Nov 09, 2020
and last updated 2020-11-09 15:58:10-05

LAS VEGAS (KTNV) — When it comes to Las Vegas' economic recovery, one theme seems to resonate with financial experts and entrepreneurs: a vaccine.

Because the Las Vegas economy relies so heavily on tourism, the thinking goes, anything that will get people feeling confident and traveling again can be seen as a win for the city.

RELATED: Taffer talks how Vegas could get help post-election

Last week, before the election, "Bar Rescue" host Jon Taffer took it a step further, saying that Las Vegas could possibly get a boost from domestic travelers if international travel takes a longer hit -- which he believes will happen.

"If international travel is less appealing [and] we get a domestic travel incentive in place," he said, "Las Vegas starts looking like the greatest travel choice available for a couple of years."

"I’m bullish," he added. "I see a real opportunity this spring post-vaccine. I think we need to hang in there... I see boomtown this spring.”

Then there's the other side of the same coin. The thinking that a vaccine can help boost international travel, which also benefits Las Vegas.

RELATED: Financial expert shares post-election prediction for Las Vegas economy

"188 countries were infected by the coronavirus," said Brad Zucker with Safe Money Advisors in a pre-election interview.

"If globally we can all get together and come to therapy or vaccine, everybody will benefit," he predicted.

"And of course locally, here in Las Vegas, people will get back on planes and will come to visit."

RELATED: Pfizer says its COVID-19 vaccine candidate is 90% effective

The Associated Press reports health experts say it's unlikely a vaccine will arrive before the end of the year, and the limited initial supplies will be rationed, but this morning a major milestone was announced.

The pharmaceutical corporation Pfizer shared that its COVID-19 vaccine candidate has been 90% effective.

As scientists continue to make strides with a vaccine that will help control and prevent the spread of the coronavirus, it's possible they're also working to cure our economic downturn.