Convention & Visitor Bureaus in the US - Industry Market Research Report
Description
Convention & Visitor Bureaus in the US
The convention and 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. Revenue jumped over most of the past five years, but the negative effects of the pandemic challenged this trend. Stay-at-home orders, social distancing regulations and decreased consumer spending severely hurt the industry in 2020. Although, as the vaccine was rolled out and restrictions were lifted completely, revenue jumped. Overall, revenue has climbed at a CAGR of 1.2% to $3.2 billion over the past five years, including an expected 4.4% rise in 2023. Profit is also expected to climb to 4.6% of revenue in 2023 from 3.9% in 2018.
The convention and 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. Revenue jumped over most of the past five years, but the negative effects of the pandemic challenged this trend. Stay-at-home orders, social distancing regulations and decreased consumer spending severely hurt the industry in 2020. Although, as the vaccine was rolled out and restrictions were lifted completely, revenue jumped. Overall, revenue has climbed at a CAGR of 1.2% to $3.2 billion over the past five years, including an expected 4.4% rise in 2023. Profit is also expected to climb to 4.6% of revenue in 2023 from 3.9% in 2018.
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.
Table of Contents
45 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
