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Convention & Visitor Bureaus in the US - Industry Market Research Report

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    Report

  • 52 Pages
  • March 2023
  • Region: United States
  • IBISWorld
  • ID: 239685

Last-minute cancellation: The industry will continue to compete with online travel sites, limiting revenue growth

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's key players and their market shares.


Table of Contents

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

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • The American Automobile Association Inc.
  • Las Vegas Convention and Visitors Authority
  • Visit Florida
  • On Call International Llc
  • Control Risks Group Limited

Methodology

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