National & State Parks in the US
The National and State Parks industry has suffered over the five years to 2018 from growing federal and state budget deficits, which have led to inadequate, or in some years reduced, funding for parks, wildlife sanctuaries and other industry services. While some sites have been forced to close due to eroding funds, others have earned revenue by enacting entrance fees, raising existing entrance fees or offering vendor contracts to offset lower budgets. Still, amid modest increases in government funding at the federal level for much of the period, industry revenue is expected to increase. Over the five years to 2023, the industry is forecast to grow marginally. Rising income levels are expected to enable Americans to increasingly travel throughout the country, helping drive foot traffic to parks. Additionally, state and local budgets are expected to improve, easing the pressure to cut park funding at the state and local level, while partnerships with private organizations will also increase.
This industry includes public and private establishments that preserve and exhibit nature. It includes national, state and city parks, as well as bird and wildlife sanctuaries, conservation areas and natural wonder tourist attractions such as caves and waterfalls. Industry revenue is based on park budgets, as opposed to park-generated revenue; therefore, it relies heavily on government funding. This industry excludes amusement parks, zoos, botanical gardens, museums and historical sites.
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.