Convention & Visitor Bureaus in the US
Overall, revenue is forecast to rise at an annualized rate of 4.8% to $2.4 billion during the period, including 1.4% growth in 2018 alone. Growth is expected to have slowed somewhat in the latter half of the period, as the strengthening of the US dollar has discouraged international travelers, particularly those from Canada. As the economy continues to strengthen, domestic travel rates are set to continue trending upward and inbound travel is expected to rise, despite currency concerns. Over the five years to 2023, domestic travel and inbound travel are forecast to grow at respective annualized rates of 1.6% and 3.6%, respectively. As a result, industry revenue is anticipated to rise at an annualized rate of 1.5% to $2.6 billion during the period.
This industry markets and promotes communities and local facilities to business and leisure travelers. Operators assist customers in locating meeting and convention sites. They also provide travel information on an area’s attractions and accommodations and provide maps and information brochures. Operators also organize group tours of local historical, recreational and cultural attractions.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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