Overview

Move along: Growth in travel will aid industry demand, but online services pose a threat

IBISWorld’s Convention & Visitor Bureaus market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Improved travel spending will enable growth, though online competition will pick up
  • Foreign travelers rely on US bureaus, so demand from this segment has spurred growth
  • Emerging economies in East Asia and South America will drive inbound visits, aiding growth

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    Industry Analysis & Industry Trends

    The state of the economy and travel-related trends drive the Convention and Visitor Bureaus industry. The decline of the domestic economy and increased unemployment forced consumers to be more selective about how they spent their disposable income. As consumers and companies cut down on spending across the board, they were less likely to spend money on luxuries like vacations and nonessential business trips. Travel spending will pick up over the next five years, facilitating industry growth. However, more consumers will look to the internet for the same services, heightening competition...

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    Industry Report - Starting a New Business Chapter

    The barriers to entry in this industry are moderate. This level is based on the initial capital costs required to purchase computer reservation systems, develop and maintain an effective internet presence and meet the cost of marketing through advertisements, brochures and other literature.

    Established industry operators are often funded by the state government, so competing with major players is also difficult. Additionally, the maintenance of convention center facilities is expensive, and there are costs associated with professional liability insurance and association memberships. The largest barrier to industry entry is introducing a service or destination to the market; many areas are expected to remain unattractive destinations for most tourists and travelers.

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    Additional Insights for the Convention & Visitor Bureaus Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Convention & Visitor Bureaus Industry are

  • Market research and understanding
  • Access to multiskilled and flexible workforce
  • Ability to take advantage of government subsidies and other grants
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Domestic trips by US residents in the Convention & Visitor Bureaus industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Convention & Visitor Bureaus Industry?

    This industry markets and promotes communities and local facilities to business and leisure travelers. Participants 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. Participants also organize group tours of local historical, recreational and cultural attractions.

    Industry Products
    Convention conference and meeting planning
    Visitor information and sightseeing tour services
    Convention support, travel reservation and other services
    Industry Activities
    Promoting tourism through marketing strategies
    Convention and conference meeting support
    Convention and conference meeting planning
    Providing visitors with information

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Domestic trips by US residents
  • Inbound trips by non-US residents
  • Consumer Confidence Index
  • Corporate profit
  • Time spent on leisure and sports

  • Current Performance
  • Domestic growth
  • Crossing borders
  • Uphill battle
  • Chart: Revenue Growth

  • Industry Outlook
  • Continuing to rebound
  • Remaining challenges
  • Table: Convention & Visitor Bureaus Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Convention & Visitor Bureaus Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Travel Agencies
  • Tour Operators
  • Trade Show and Conference Planning
  • Hotels & Motels
  • Sightseeing Transportation

  • Key Selling Industries
  • Computer Stores
  • Graphic Designers
  • Office Supply Stores
  • Quick Printing
  • Trade Show and Conference Planning

  • Products & Services
  • Convention conference and meeting planning
  • Visitor information and sightseeing tour services
  • Convention support, travel reservation and other services
  • Chart: Convention & Visitor Bureaus Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Business travelers
  • Leisure travelers aged 34 and younger
  • Leisure travelers aged 35 to 54
  • Leisure travelers aged 55 or older
  • Chart: Major Market Segmentation for the Convention & Visitor Bureaus Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    Purchases and profitWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Convention & Visitor Bureaus

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Convention & Visitor Bureaus Industry

  • Industry Globalization
    Major Companies
    Las Vegas Convention and Visitors Authority Visit FloridaHawaii Tourism Authority
  • Table: Las Vegas Convention and Visitors Authority - financial performance
  • Table: Visit Florida - financial performance
  • Table: Hawaii Tourism Authority - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Convention & Visitor Bureaus Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Convention & Visitor Bureaus Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Inbound trips by non-US residents (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Convention
  • A large meeting or conference that typically takes place over a number of days and brings together individuals with a shared interest
  • Packaged Tour
  • A tour that includes prearranged and prepaid air travel, accommodations and other activities (e.g. sightseeing).
  • Visitor Bureau
  • An organization that provides information services to tourists and undertakes general tourism promotional activities for a state or city.
  • Why buy this report?

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    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Convention & Visitor Bureaus:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Convention & Visitor Bureaus market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Convention & Visitor Bureaus, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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