Vision 2021: Nevada’s economic forecast

The College of Business at the University of Nevada, Reno, will host Vision 2021: Nevada’s economic forecast Friday, January 22, 2021, as part of the College’s ongoing efforts to support the economic development and growth of the state’s economy.

“The ongoing COVID-19 pandemic has impacted Nevada’s economy in several unprecedented and difficult to predict ways,” said Frederick Steinmann, assistant professor in the college’s economics department and conference organizer. “Vision 2021 is an attempt to understand how the pandemic has impacted the state’s economy and how the state’s economy will continue to be affected. “

National and local policymakers, government administrators, business leaders and industry leaders are welcome and encouraged to attend as the information presented at this year’s event will help prepare for the coming year.

“Nevada’s unique economic profile has made the state particularly sensitive to the economic impacts of the global COVID-19 pandemic,” said Steinmann. “Nevada’s economy is highly integrated with global and national economic changes. Within the state, and despite considerable efforts to diversify the state’s economic base, changes in a few key industrial sectors, such as housing, agriculture, mining, healthcare and tourism, can have widespread impacts on the overall economic fortunes of local governments, private sector businesses and individuals.

As an example, Steinmann said the continued community spread of COVID-19 across Nevada, coupled with significant reductions in domestic and international tourism to the state, has resulted in significant increases in unemployment rates across Nevada. state and local level as well as increasing fiscal pressure on budgets. municipal governments and local counties throughout Nevada.

“In Las Vegas alone, according to the Las Vegas Convention and Visitors Authority, the total number of visitors has grown from an estimated total of around 3.7 million total visitors in October 2019 to around 1.9 million visitors in total in October 2020, a net reduction of nearly 1.8 million total visitors, or 49% in just one year, ”he said. “These impacts continue to be felt statewide, and Vision 2021 is designed to provide elected and appointed public sector officials, government officials, leaders of nonprofit organizations, and business owners. firm a more precise understanding of how the state’s economy, either globally or within particular industrial sectors, will continue to be affected over the coming year.

Registration for Vision 2021 costs just $ 25 and you can register for this event online. Attendees are urged to register by 5:00 p.m. on Monday, January 18, 2021. Due to the COVID-19 pandemic’s current restrictions on large meetings, Vision 2021 will be held online, live, via Zoom.

Register for Vision 2021: Nevada’s economic forecast