Experts Say Las Vegas Can Recover

A handful or respected experts believe that Las Vegas can make an economic recovery within the next couple of years despite its current problems. Speaking at the Greater Las Vegas Chamber of Commerce's 2010 "Preview Las Vegas" event, Rob Lang of the Brookings Institute said that Vegas's glut of commercial and residential real estate will actually help the city in the long run. That's because deals on everything from office space, to retail space, to large houses will attract huge numbers of people, especially small business owners and older retired or semi-retired Americans. Good climate and low taxes will continue to help re-invigorate the local economy as well. Lang also mentioned a few other reasons why there's reason to be optimistic about a Las Vegas recovery, including huge investments in renewable energy development in Southern Nevada and the growing "carbon market" in Europe and Japan.

Lang said that there are several steps that must be taken to ensure Las Vegas's and Nevada's economic future:

-- Don't allow a sense of gloom to turn Vegas into an "un-fun" destination
-- Make strategic investments in human capital & higher education
-- Develop regional partnerships, especially on issues like solar energy development
-- Improve transportation links between Los Angeles and Phoenix.
-- Continue to promote Las Vegas as a global business city, especially in terms of conventions

While the economic problems in the US and the world continue to hurt Las Vegas more than most other places, there is certainly a ray of light appearing at the end of the tunnel. Many experts believe that once America's economy begins to re-stabilize millions of stressed out people will be looking for simple and relatively inexpensive ways to travel and "let loose". Vegas is and will continue to be America's Playground and one of the world's top destinations for fun and relaxation. There's a good chance the the city will return to economic prosperity as people from around the world begin to take advantages of the incredible deals and bargains to be had, in everything from real estate, to homes, to hotel rooms and world-class restaurants!

Learn some mo': Dreary reality aside, optimists make case for Vegas revival