National Parks & Other Nature Institutions - Industry Market Research Report

June 2022 •
41 pages •
Report ID: 6019886 •
Format: PDF

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Happy camper: Budgetary issues and deficit-related matters are expected to temper industry profit

Abstract

National Parks & Other Nature Institutions
The National and State Parks industry has suffered over the five years to 2019 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, this industry is heavily dependent on investment from public sources and private donors. As a result, over the five years to 2019, IBISWorld expects industry revenue will increase. Over the five years to 2024, the industry is forecast to continue its sluggish growth. However, rising income levels are expected to enable Americans to increasingly travel throughout the country, helping drive foot traffic to parks.

The National Parks and Other Nature Institutions industry includes operators engaged in the preservation and exhibition of natural areas or settings. Operators include national parks, wildlife sanctuaries, natural wonder tourist attractions and other similar institutions. Industry revenue is based on park-generated revenue and excludes state and city parks, zoos and botanical gardens.

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 key players and their market shares.

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