Diversification Economy in Las Vegas
“Las Vegas is lagging behind many cities in the recovery because we were in much worse shape than most cities,” David Christianson, who is a TCA 449 professor in University of Nevada, Las Vegas who is a knowledgeable international tourism professor said so in my personal interview, “Since we are a mono economy, any kind of diversification would be helpful.” The dominating economy in Las Vegas are from gaming, tourism, convention and meeting, which then could support and develop the restaurant industry. Therefore, the economy of Las Vegas needs diversification to develop deeply. The economy of Las Vegas relies on consumer spending; however it has not yet recovered since the economic crisis in 2008, this is due to that this city relies so much on discretionary spending which lead to the result that its recovery will be slower than the rest of the country. For this reason, Las Vegas needs diversification economy moreover needs to seek some environmental-friendly industries that will not bring burden to the gambling town environment. Diversification economy wills bring more profit, government revenues, export income and employment. Many people said that tough Las Vegas need diversification economy, there is no industry fit for Las Vegas. They think if we want to set up new industry in Las Vegas will cost much money and get a little bit benefit. Anyway, the diversification economy is the best way to annihilate poverty. The diversification economy in Las Vegas can bring many benefits. The first thing can increase economy. The social development pattern let us know the growth of economy is not everything gets development, but it is the heart of development. The economy development is the best way to solve unemployment crisis, it can provide more job for people, at the same time, and people can get higher salary. People have money will promote the consumption level. Moreover, it is means higher tax rate. Because of higher tax rate, the government will have more budgets. Therefore, people will have better hospital, better university, and better public utility. And also the government will promote the development of infrastructure and manufacturing. Someone will say lots of investment can increase economy, but this is not a persistent thing. We know that the American housing crisis is a negative example. If we want to make our Las Vegas become rich city must set up some real industry can make money for Las Vegas, according to Henny, from his essay “China land price fall threatens local finances”, he said most small cities, poor cities, they lack of diversification economy. The heart of development is economy, if we don’t have a good economy how we can develop entertainment, education, and tourist industry. Chinese always say economy is the foundation of a large building, if the foundation not good, the building will collapse, when the building collapsed if we want to rebuild it, we need pay more money and attention to rebuild it. It is the reason why the Chinese increase rapidly. Diversification economy in Las Vegas can promote the equity among people. Diversification economy brings many job and higher salary. Therefore, the gap between rich and poor will be shortened. Moreover, it will promote the benign competition. The equity can create a good social environment in Las Vegas. It will reduce crime, less beggar and also make people have a better situation in heart. The happiness will at a high level in Las Vegas. According to the UN general secretary Ban Ki moon in World Day of Social Justice in 20 Feb 2011 what he said is social equity not only the ethic, but also it is groundwork of social and country’s prosperity. We cannot ignore benefit of equity in diversification economy. If there is high quality equity in Las Vegas, the right of culture, political, economy and education will get better protection. In other words the equity is the foundation of harmony. The diversification economy...
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