Scenic route: Slow government funding will temporarily cause industry revenue to fall

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...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23
Market Share of Companies

Industry Threats & Opportunities

  • Tourists have continually turned to industry parks for natural and inexpensive leisure activities
  • While some states closed parks due to budget cuts, other states partnered with private organizations
  • Funding at the federal and state level is forecast to continue tightening
  • Industry Report - Industry SWOT Analysis Chapter

    The National and State Parks industry is in the mature stage of its life cycle. Over the 10 years to 2023, IBISWorld forecasts the industry's value added (IVA), which measures the industry's contribution to the economy, to grow by only 0.5% annually. Conversely, GDP is expected to grow 2.1% per year on average during the same period. Persistent budget deficits over the past 10 years are the main culprit for the industry's poor performance. As the current administration plans to continue and exacerbate budget cuts for many of the industry's players, and because government funding is by far the largest source of revenue for the majority of industry players, this trend is not likely to change.Most parks are well-established and have at least a basic level of infrastructure. Vis...purchase to read more.

    Additional Insights for the National & State Parks Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the National & State Parks Industry are

  • Ability to negotiate successfully with regulator
  • Access to multiskilled and flexible workforce
  • Ability to attract local support/patronage
  • IBISWorld analysts also discuss how external factors such as Government consumption and investment and Domestic trips by US residents in the National & State Parks industry impact industry performance..

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    What's in this report

    What is the National & State Parks Industry?

    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.

    Industry Products
  • National parks
  • State parks
  • City parks
  • Industry Activities
  • City park management
  • National park services
  • Natural wonder tourist attraction management
  • State park management
  • Nature center management
  • Wildlife sanctuary management
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Government consumption and investment
  • Domestic trips by US residents
  • Per capita disposable income
  • Time spent on leisure and sports
  • Inbound trips by non-US residents

  • Current Performance
  • Budget cuts
  • Public-private partnerships
  • Competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Boosting visitor numbers
  • Privatization
  • Table: National & State Parks Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - National & State Parks Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Public Schools
  • Private Schools
  • Consumers

  • Key Selling Industries
  • Administration of Government Programs
  • Donations, Grants & Endowment
  • Food Service Contractors
  • Grocery Wholesaling

  • Products & Services
  • City parks
  • National parks
  • State parks
  • Other
  • Chart: National & State Parks Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Day trips by nonlocal visitors
  • Overnight trips
  • Day trips by local residents
  • Chart: Major Market Segmentation for the National & State Parks Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs National & State Parks

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the National & State Parks Industry

  • Industry Globalization
    National Park Service,
  • Table: National Park Service - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the National & State Parks Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the National & State Parks Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Domestic Trips by US Residents (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • Tourists who seek out environmentally based experiences when traveling.
  • Ecosystem Management
  • The act of maintaining viable wildlife populations and natural ecological processes and accommodating human use.
  • Nature-Based Tourism
  • Tourists who seek out nature-based experiences when traveling.
  • Self-Generated Revenue
  • Revenue generated by parks from sources like visitor fees, accommodations, food services and concessions.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s National & State Parks Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on National & State Parks:
    • 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 National & State Parks 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 National & State Parks, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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