Las Vegas Diversification Economy

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
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
If Las Vegas has diversification economy, there are many industries and factories, the quantity of products will increase. Meanwhile at the same time, Las Vegas will have more contribution for GDP in United Stated. It is means Las Vegas will have more budgets and expand the city scale. I remembered I learned the definition of production capacity in my Chinese high school is that the ability of human beings to change the nature. If we have diversification economy in Las Vegas we will have a stronger ability to change the nature, we can use more nature resource make more products for the human beings society in the new industry and factory in Las Vegas. As you see, the production capacity which bring by diversification economy can be ignored. It is also a big