Las Vegas V. Waikiki Although One Is Essay

Las Vegas V. Waikiki

Although one is in the middle of the desert and the other on an island in the middle of the sea, Las Vegas and Waikiki draw visitors and new residents year-round. In spite of their diverse geographical locations, both are American cities with a rich ethnic diversity and a strong tourism industry. Both American cities share similar appeals: Waikiki, which is a district of Hawaii's capital Honolulu, has year-round mild and sunny weather, although Las Vegas, Nevada gets much colder in the winter than Honolulu does. Tourists are drawn to these cities for fun as well as sun, for both areas boast a number of world-class four and five-star resorts as well as lively nighttime entertainment. Las Vegas draws people for its gambling casinos, and Waikiki for its beaches, but both cities are famously fun. People and families that are considering relocation would take into account more than just nightlife, however. Weather, cost of living, and other factors impact the selection of a new home. Las Vegas and Honolulu have similar median household incomes. However, Honolulu is one of the most expensive cities in America in which to live, with a cost of living index that ranks fourth in the nation. Las Vegas has a lower cost of living in general. Both cities have a relatively low rate of unemployment, but Las Vegas also has a better job growth rate than Honolulu. In spite of some differences in cost of living and local economies, Honolulu and its world famous beach Waikiki shares much in common with Las Vegas and its world famous casinos. Both Waikiki and Las Vegas make excellent vacation spots, and although Las Vegas might be a cheaper place to which to move or start up a business, the desert city lacks the beach culture, lush flora and fauna, and unique ethnic makeup of Hawaii.

The cost of living in Las Vegas is four percent above the national average, according to the Cost of Living Index by ACCRA, whereas Honolulu's cost of living is 44% higher.The cost of food, housing, utilities, and transportation are all lower in Las Vegas than in Honolulu. The only thing that costs less in Honolulu than in Las Vegas is health care, but the difference is small. Therefore, if a person or family is on a tight budget, Las Vegas might be a better choice for relocation. Still, median household income is almost the same in Honolulu as it is in Las Vegas: around the $48,000 per year mark according to CNN Money. Per capita household income levels are also similar between the two cities, around $29,000, and slightly above the national averages. Owning a home is cheaper in Las Vegas than in Honolulu. Honolulu's average home price is $218,000, which is right about at the national average. In Las Vegas, a person can purchase a home for far less, as the average price for a house there is $157,140. On the other hand, Las Vegas has much higher property taxes than Honolulu, which somewhat offsets the cost of the home. In Honolulu, a person pays $3.65 per $1,000 of the property's market value, whereas in Las Vegas, a person will pay $67.41, a rate that is more than twice the national property tax average.

Although Nevada has no state income tax, and Hawaii does, sales tax in Honolulu is only 4%, compared with 7.25% in Las Vegas. Car insurance premiums are also slightly higher in Las Vegas than in Honolulu: $956 per year compared with $811 (CNN Money). Both Las Vegas and Honolulu have low levels of unemployment, when compared with the national average.

Moreover, starting a business in Las Vegas is easier and cheaper than it is in Honolulu. Due to major financial incentives offered by the state of Nevada, starting a business in Las Vegas is easy and cheap: there are no corporate, franchise, inventory, or unitary taxes for businesses in Las Vegas. Inc. magazine ranked Las Vegas as the number one entrepreneurial city in the United States, and Fortune ranked Las.....