On top of being the number one destination for gambling in the US, Vegas is also has the largest amount of space for trade shows. The largest, which is the CES (Consumer Electronics Exhibition), has their convention in Vegas in January annually which usually spans 3 million square feet (278,709 square meters) and attracts 171,000 people from across 164 countries.
In following the closing of all the Casino and Hotels in Vegas as well as some of the slow reopenings, the trade group which organizes the CES show has decided to cancel the event in Vegas and hold the event in January virtually. This is just another nail in the proverbial coffin for Las Vegas which in May had an unemployment rate of 29%.
Along with the Hotels and Casinos closing for 3 months, this cancelation will have a huge effect on the overall economy. Think of all the people and support that is needed for the exhibition itself such as transportation, construction, food/beverage, accommodations, etc. The loss to Las Vegas will be immeasurable and will pave the way for other trade shows and exhibitions to reevaluate their upcoming shows.
How much more of this can Vegas handle is still unknown, but if this is just the beginning of the cancellations, then Vegas is in for a stormy 2020 and 2021.
