$3.3bn
$XXX.Xm
12,829
5,126
$XXX.Xm
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. As the vaccine was rolled out and restrictions were lifted completely, revenue jumped. Overall, revenue has inched up at a CAGR of 0.5% over the past five years to reach an estimated $3.3 billion in 2024, including an expected 2.4% rise in 2024. Profit is also expected to reach 4.0% of revenue in 2024.
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $3.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
The American Automobile Association, Inc. | 301.0 | 14.1 | 4.7 | |
Las Vegas Convention and Visitors Authority | 292.9 | 14.8 | 5.1 | |
Visit Florida | 123.9 | 3.7 | 3.0 |
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Industry revenue is measured across several distinct product and services lines, including Convention conference and meeting planning, Visitor information and sightseeing tour services and Convention support, travel reservation and other services. Convention conference and meeting planning is the largest segment of the Convention & Visitor Bureaus in the US.
Visitor information and sightseeing tour services gain popularity post-pandemic
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.
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NAICS 56159 - Convention & Visitor Bureaus in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
COVID-19 stalled revenue growth in recent years. Domestic travel and inbound trips by non-US residents plummeted in 2020 due to mandatory lockdowns. As vaccine distribution h...
Learn about an industry's products and services, markets and trends in international trade.
Convention conference and meeting planning surged after COVID-19 restrictions were lifted. These events gained popularity as in-person interactions resumed and workers return...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Operators are spread out across the U.S. according to population distribution. Major tourist spots have higher concentrations of establishments. Popular destinations naturall...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is typically confined to local or regional areas. Visitor bureaus work to promote their state or city to attract as many tourists as possible. Their efforts aim t...
Learn about the performance of the top companies in the industry.
Industry concentration is low. Larger operators in traditional tourist areas exploit economies of scale, reaching a wider customer base. Meanwhile, smaller players often stru...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Some states require that products and services be promoted and offered only by local businesses. Others permit travel bureaus to create marketing campaigns. This approach hel...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wages are inching down for employees who market and sell travel times and packages. This drop is due to the growing use of computers and internet technology.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Convention & Visitor Bureaus in the US industry in United States is $3.3bn in 2024.
There are 5,126 businesses in the Convention & Visitor Bureaus in the US industry in United States, which has grown at a CAGR of 2.1 % between 2019 and 2024.
The market size of the Convention & Visitor Bureaus in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Convention & Visitor Bureaus in the US industry in United States is expected to grow.
The biggest companies operating in the Convention & Visitor Bureaus market in United States are The American Automobile Association, Inc. , Las Vegas Convention and Visitors Authority and Visit Florida
Promoting tourism through marketing strategies and Convention and conference meeting support are part of the Convention & Visitor Bureaus in the US industry.
The company holding the most market share in United States is The American Automobile Association, Inc. .
The level of competition is moderate and increasing in the Convention & Visitor Bureaus in the US industry in United States.