SWOT Analysis of the Vegas Tourism Industry and Marketing
(What Happens in Vegas Stays in Vegas)
Las Vegas SWOT Analysis
By Jennifer Bourdeau
Marketing 370, section 04
September 18, 2007
STRENGTHS
The largest strength Las Vegas tourism has is its brand recognition of its famous phrase, "What happens in Vegas, stays in Vegas". Other phrases such as "Your Vegas is showing" are in the works. Vegas also has an enormous bank of existing visitors- over 38.9 million a year. These visitors produce a city wide average occupancy of about 90%, the largest in the country. Las Vegas is one of the most well know tourism destinations in the world and its presence in the global tourism industry is only growing. The Las Vegas Convention and Visitors Authority (LVCVA) is developing plans to market more aggressively to an international demographic. For example, the LVCVA will exhibit at this year 's World Travel Market, November 12-15, 2007 in London. The World Travel Market is one of the world 's largest international travel industry trade shows, and it attracts approximately 50,000 travel professionals. The United Kingdom is Las Vegas ' top overseas market. More and more money is being spent in Vegas and by the LVCVA; money attracts people to live there and jobs are generated. Activities such as gambling and prostitution, which would elsewhere be illegal, are legal in parts of Nevada and therefore create a competitive advantage over other states.
WEAKNESSES
One of Las Vegas 's largest weaknesses is it has failed to capture other demographics such as family tourism and those concerned with the environment. Environmentally, Vegas is not in the best shape. Vegas has a demand for water that far exceeds its supply- an average of 300 gallons per day per person. Without the water from the Colorado River, Las Vegas would not be able to sustain even a fraction of the population and tourists they do today. In addition, Vegas has an insatiable need for electricity. Las Vegas is also an isolated location, meaning nothing else around the city
Las Vegas SWOT Analysis
By Jennifer Bourdeau
Marketing 370, section 04
September 18, 2007
STRENGTHS
The largest strength Las Vegas tourism has is its brand recognition of its famous phrase, "What happens in Vegas, stays in Vegas". Other phrases such as "Your Vegas is showing" are in the works. Vegas also has an enormous bank of existing visitors- over 38.9 million a year. These visitors produce a city wide average occupancy of about 90%, the largest in the country. Las Vegas is one of the most well know tourism destinations in the world and its presence in the global tourism industry is only growing. The Las Vegas Convention and Visitors Authority (LVCVA) is developing plans to market more aggressively to an international demographic. For example, the LVCVA will exhibit at this year 's World Travel Market, November 12-15, 2007 in London. The World Travel Market is one of the world 's largest international travel industry trade shows, and it attracts approximately 50,000 travel professionals. The United Kingdom is Las Vegas ' top overseas market. More and more money is being spent in Vegas and by the LVCVA; money attracts people to live there and jobs are generated. Activities such as gambling and prostitution, which would elsewhere be illegal, are legal in parts of Nevada and therefore create a competitive advantage over other states.
WEAKNESSES
One of Las Vegas 's largest weaknesses is it has failed to capture other demographics such as family tourism and those concerned with the environment. Environmentally, Vegas is not in the best shape. Vegas has a demand for water that far exceeds its supply- an average of 300 gallons per day per person. Without the water from the Colorado River, Las Vegas would not be able to sustain even a fraction of the population and tourists they do today. In addition, Vegas has an insatiable need for electricity. Las Vegas is also an isolated location, meaning nothing else around the city
Cited: Spillman, Benjamin. "Authority 's slogan slog continues." Las Vegas Review Journal 11 June 2007. 14 September 2007 <http://nl.newsbank.com/nl-search/we/Archives?p_action=list&p_topdoc=111>. Weidner, William. "Put room tax growth to work." Las Vegas Review Journal 20 May 2007. 14 September 2007 <http://nl.newsbank.com/nl-search/we/Archives?p_action=list&p_topdoc=123>. Duggan, Brian. "Balance of security, tourism touted." Las Vegas Review Journal 02 June 2007. 14 September 2007 < http://nl.newsbank.com/nl-search/we/Archives?p_action=list&p_topdoc=51> "City of Las Vegas." Fun Facts. . . 13 September 2007 <http://www.lasvegasnevada.gov/FactsStatistics/funfacts.htm>. "Las Vegas." . 2007. Las Vegas Convention and Visitors Authority. 13 September 2007 <http://www.visitlasvegas.com/vegas/index.jsp>.