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Convention & Visitor Bureaus in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Convention & Visitor Bureaus Market Research Report | NAICS 56159 | Jan 2017

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

The Convention & Visitor Bureaus market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 11-16
5.7%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
11,310
Businesses
2,608
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
  • ... purchase to read more

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... ... purchase to read more

Industry Report - Industry Key Buyers Chapter

This industry has a low level of concentration, with the top three convention and visitor bureaus accounting for less than 40.0% of revenue. Large operators in traditional tourist areas are better able to exploit economies of scale than smaller operators. With more accommodations available and a wider selection of entertainment and leisure options to market to potential guests, these large operators can ostensibly market a more enjoyable experience than smaller operators in less traditionally tourism-centric locations can. They can also respond more quickly to customers' preferences, particularly in relation to online infrastructure that allows individuals to browse operators' sites and book travel arrangements at their convenience. Lar.. ... purchase to read more

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... purchase to read more

     


    Industry ProductsRelated Reports

    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 planningVisitor information and sightseeing tour servicesConvention support, travel reservation and other services
     
    Industry Activities
    Promoting tourism through marketing strategiesConvention and conference meeting supportConvention and conference meeting planningProviding 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
  • Chart: Cost Structure Benchmarking – Sector vs Convention & Visitor Bureaus
  • Basis of 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 Florida
    Hawaii 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?
    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 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 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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