LAS VEGAS
Las Vegas is the most populous city in Nevada, United States, and an internationally renowned major resort city for gambling, shopping and fine dining. Las Vegas, which bills itself as the entertainment capital of the world, is famous for the number of casino resorts and associated entertainment.
The primary drivers of the Las Vegas economy have been the confluence of tourism, gaming and conventions, which in turn feeds the retail and restaurant industries.
Constant population growth means that the housing construction industry is vitally important. In 2005 Las Vegas was regarded as the fastest growing community in the US. However, the financial crisis of 2007 – 2010 and the accompanying business downturn has sent business and growth tumbling.
In recent years, the Nevada state government has tried to attract non-gambling companies and industries into the state and there has been an increase in the number of non-gambling manufacturing companies.
Local government spending has also focused on bringing the human traffic back to Nevada City. Property investors in the area would therefore want to take a look at properties in this area if the revitalizing of the city is successful. Investing in the line of progress is excellent in this respect.
Property investment in Las Vegas is thus a good place to start investing, especially in the areas which are situated next to some of the most famous casinos in the area. Such properties provide good rental yield and income for the longer term.
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