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The Newsroom - 2010 |
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When Will Vegas
Rebound From Recession?
Expert: Economic Rebound Could Take Years
March 23, 2010 -
LAS VEGAS - Las
Vegas won’t see an economic recovery as quickly as something other cities, one
expert predicted Tuesday, because vacations are a low priority for families.
Speaking at the release of the 2010 Las Vegas Perspective, Federal Reserve
Senior Economist Raymond Owens said the tourism should rebound, but it will take
time.
“Las Vegas, because it has a heavy reliance on those kinds of categories,
they’re going to come a bit down the road,” he said. “We’ll see a little bit of
delay before consumers are ready to take those vacations again.”
Owens’ statements reflected some of the opinions found in the perspective.
When asked about the future of southern Nevada’s economy, more than 40 percent
said it would stay the same over the next 12 months, while more than 30 percent
thought it would get worse, according to the report.
However, when asked about the next five years, more than 70 percent of those
surveyed said the economy would expand, while less than 16 percent thought it
would stay the same.
Results in the report were generally the same when those polled were asked about
their thoughts on the national economy.
Survey: When Will Vegas Rebound From Recession?
FOX5 wants to know what you think. Take our Web poll and tell us when you think
the Las Vegas economy will rebound from the recession. You can also sound off on
THE RANT.
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