Clark County Aviation a $35 Billion Economic Engine
McCarran International Airport and its supporting aviation system generate nearly $35 billion in economic output, support approximately 250,000 jobs and are responsible for 18 percent of the area’s gross domestic product, according to a recent study conducted by Oxford Economics.
“This report reiterates the critical role this aviation system plays as the transportation nexus of Southern Nevada,” said Rosemary Vassiliadis, Clark County Director of Aviation. “McCarran has posted new passenger records in each of the past three calendar years and exceeded 50 million yearly passengers for the first time in 2019. The ability of our airport to accommodate a growing number of passengers has been, and will continue to be, the key for the sustained success of Southern Nevada.”
McCarran plays a vital role in shaping the regional economy. The hospitality industry is reliant on the ability of the airport to welcome additional visitors each year, while also working to open the door to new markets. Businesses are able to better serve clients and recruit top talent worldwide due to the accessibility of the greater Las Vegas area. It is also a reason why Las Vegas has remained the top trade show destination for 25 consecutive years. The future development and success of Southern Nevada is directly linked to the Clark County Aviation System.
Using 2018 data, the economic output and jobs supported by the airport were determined by analyzing the direct, indirect and induced impact of airline, airport and passenger expenditures. These factors were used to calculate the “total impact” of $35 billion in economic output and 250,000 jobs. This was an approximately 20 percent increase from results found in a comparable study of 2014 data.
Approximately 25 percent of all jobs in the region are supported by airport activity, including nearly 175,000 positions in the hospitality and transportation sectors. LAS alone supported 246,000 jobs, while Henderson Executive Airport and North Las Vegas Airport supported more than 1,000 and 900 jobs respectively.
Unsurprisingly, McCarran was found to have the largest impact of the county-operated airports. Visitors utilizing LAS accounted for nearly 80 percent of the system’s economic impact. It is estimated that domestic travelers spent $12.5 billion, while international travelers spent $6.2 billion in 2018.
The confidence of the business community in McCarran’s ability to accommodate the increasing number of visitors each year plays a crucial role in the current $3.5 billion investment in new construction in the hospitality, convention and entertainment sectors.
The report credits the global reach of McCarran as a factor for many businesses relocating their operations to Southern Nevada. These businesses found that the airport was able to meet their needs in supporting business service operations, and conveniently flying in clients and team members.
