Convention & Visitor Bureaus in the US
The Convention and Visitor Bureaus industry markets and promotes communities and local facilities to business and leisure travelers. Operators also assist customers in locating meeting and convention sites and planning and supporting associated events. The industry has rebounded strongly from a low base as travel rates have grown strongly over the five years to 2019. Industry demand is heavily dependent on travel trends, as business and leisure travelers are its core customers. Over the past five years, consumer confidence has skyrocketed, encouraging more domestic travel. Furthermore, domestic trips have grown as rising consumer confidence has led travelers to spend more while on trips. Additionally, the number of international arrivals into the United States has grown quite rapidly, helping propel revenue during the five-year period. Additionally, the appreciation of the US dollar has prompted concerns about slowing growth in the arrival of international travelers with relatively less purchasing power. Nevertheless, industry profit has remained relatively stable over the past five years. 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.
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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