We’ve all noticed the continued rising costs of Las Vegas. Hotels are nearly twice as much as just a few years ago, plus there are fees on everything from taxi rides to live shows to your dinner bill. So what’s behind the surge in costs? I mean, it’s not like we’re getting more for our dollars, so what gives?
Sin City was once renowned for its budget-friendly vacations and weekend trips. But in a few short years the city has transitioned from being a cost-friendly option to an emphasis on a luxury experiences. One reason we’re all seeing the perpetual rising costs of Las Vegas is that corporations are embracing more high-end resorts, gourmet dining, and exclusive entertainment.
The pandemic didn’t help, either. In fact, the lock downs actually escalated prices, pushing costs to new heights, especially as the town tries to keep up with other gambling destinations.As a result, prices have increased at a rate that well surpasses inflation. And with new attractions like the Sphere, new events like the Grand Prix, and professional sports teams in town there is no end in site.
To be sure, the rising costs of Las Vegas are not your imagination. A study by Forbes revealed a 60% rise in car rentals rates, an increase of nearly 15% in food prices, and close to a 50% increase in hotel prices. The shift is a deliberate strategy to attract high-end clientele, which has successfully boosted corporate and state revenues. The rest of us “small people” are being squeezed out… and the resorts do not care.
So, the prices are rising and the resorts don’t care. Why would they? I mean, they are printing cash. Still, some advisors believe that the average schmuck can still visit, but you must recognize that they are dividing us into tiers of clientele. The premium experiences, for those who can afford them, and the no-frills experience for the “budget-conscious travelers” that these resorts don’t really care about.
So what pearl of wisdom do these advisors have for us poor folk? Well hold onto your seat, because these gurus of travel say that we can avoid the rising costs of Las Vegas by staying off the Strip and exploring more affordable hotels, dining options, and entertainment can help manage costs. Wow… that’s quite insightful. Thank goodness they chimed is, because we silly peasants could have never thought of that on our own.