Despite its struggles during the recent recession, Nevada’s gaming economy received strong marks in a U.S. Chamber of Commerce study analyzing states' economic competitiveness.
Nevada was praised for its efforts to attract international tourists, a key market for Las Vegas casinos, according to the report, which was released last week.
''Hard hit during the peak of the recession, (Nevada) tourism is improving,'' it said. ''Part of the upswing is due to visitation from countries whose economies have fared comparatively well in recent years," such as China.
The U.S. Chamber noted that the Nevada Commission on Tourism (NCOT) has the first U.S. tourism office licensed to do business in China.
NCOT markets across the world, in countries such as the United Kingdom, Germany, France, Canada, Mexico, South Korea, Australia and Brazil. The Las Vegas Convention and Visitors Authority (LVCVA) also promotes Las Vegas globally, with 15 partner offices that represent more than 70 nations.
Statistics for 2011 aren’t out yet, but international visitation reached record levels in Las Vegas in 2010 with foreign visitors accounting for 18 percent of overall visitation and 27 percent of tourism revenue.
Almost 7 million foreign visitors spent $6.6 billion last year in Las Vegas and are a market Las Vegas casino resorts continue to tap with overseas sales forces and marketing initiatives.
The U.S. Chamber competitiveness report also noted that Nevada:
-- Ranked No. 2 for infrastructure with the condition of its bridges among the best in the nation, 97 percent of its residents having broadband access and the state working on initiatives to promote energy transmission projects which encourage development of renewable energy resources.
-- Ranked No. 8 for export performance, down from No. 7 in the U.S. Chamber's 2011 report. Nevada products sold overseas include gold, copper, slot machines and integrated electronic circuits.
Nevada also received high marks for its business-friendly tax climate and high level of entrepreneurism. But Nevada was ranked in the bottom half of states for key educational metrics, including educational attainment and college affordability.
And despite its strengths in tourism, exporting and infrastructure, Nevada –- which still leads the nation in unemployment and remaines No. 3 in foreclosures -- did not make the U.S. Chamber’s Top 10 lists of high performing and future boom states. The states that did make the lists have more diversified economies with rebounding manufacturing sectors, lots of technology companies and a focus on cashing in on the U.S. energy and agriculture-exporting boom.
Top-performing states include North Dakota, Wyoming, Virginia, Alaska and Maryland. Top-ranked future boom states include North Dakota, Utah, Texas, Virginia and Wyoming.
Overall, the U.S. Chamber said the study found that ''states that boost exports, foster innovation, provide businesses with certainty and reasonable taxes, insist on excellence in education and prioritize infrastructure are leading on job creation and economic growth.''