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Nevada's revenue expected to rebound in second half of 2021 – Nevada News and Views


Nevada’s revenue expected to rebound in second half of 2021
May 7, 2021
People ride an escalator along the Las Vegas Strip, Saturday, April 24, 2021, in Las Vegas. Las Vegas is bouncing back to pre-coronavirus pandemic levels, with increases in airport passengers and tourism.
AP Photo/John Locher
(
Robert Davis) A panel of fiscal experts in Nevada issued their forecast for the state’s biennial budget on Tuesday.
Nevada’s Economic Forum said on Tuesday that they anticipate state revenue to be $582.6 million more than what the body projected in December as the state’s vaccination rate increases and reduced restrictions on businesses allow the economy to recover. ....

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Reno's tourism decline moderate compared to U.S. overall


Officials at the Reno-Sparks Convention and Visitors Authority (RSCVA) this week said data shows the region’s tourism industry is faring better than the national average. Northern Nevada’s outdoor attractions and the increased number of flights to Reno’s airport are being credited, in part, for the less dramatic decline.
RSCVA reported that through the first three months of 2021, taxable room revenue in Washoe County was down 0.5% compared to the same period in 2020 before the pandemic took hold and put a halt to most travel. During the same period, cash occupied rooms were down 6.4% year-over-year, but the average daily rates for rooms increased 6.3%, helping to offset fewer rooms booked. ....

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