Historic Sites in the US Industry Market Research Report from IBISWorld Has Been Updated

New York, NY (PRWEB) August 26, 2014

Visits to historic sites have been on the rise over the past five years. As unemployment declines and incomes rise, consumers are once again slowly increasing their use of discretionary funds, including those associated with travel. However, with the economy slowly regaining its footing, consumers have remained unsure about future economic conditions, largely choosing to reduce debt, increase savings and limit major expenses including travel. Thus, the number of historic site visitors has not made a substantial comeback over the period. Consequently, over the five years to 2014, revenue is estimated to rise.

The Historic Sites industry is largely composed of not-for-profit operators, many of which receive direct government funding or partner with government agencies. Hence, the industry is dependent on available government funds to meet costs not covered by operating revenue. According to IBISWorld Industry Analyst Sally Lerman, “the recession and subsequent recovery period severely reduced government tax revenue and many local agencies were forced to cut funding for historic preservation purposes.” In 2015, national park budgets are expected to grow; the first increase of the five-year period. Budget cuts during the period have kept profit low and limited the number of new entrants into the industry, while others raised admission prices or other fees to remain competitive. The number of enterprises is also estimated to increase in the five years to 2014.

Nonetheless, one positive factor affecting the industry is the rise of foreign visitors to the United States. “The industry, already struggling to compete against other forms of travel and entertainment, benefits from international visitors to historic American landmarks, such as the Statue of Liberty,” says Lerman. As the strength of the US dollar, relative to other currencies, has declined and incomes in quickly growing economies have escalated, foreign visitor rates have increased over the past couple of years. Attracting these visitors, finding other forms of revenue and offering new services will support growth in industry revenue in the future. IBISWorld forecasts that revenue will grow over the five years to 2019.

For more information, visit IBISWorld’s Historic Sites in the US industry report page.

Follow IBISWorld on Twitter: http://bit.ly/1pIQR7Z



Friend IBISWorld on Facebook: http://on.fb.me/1pIQQ43

IBISWorld industry Report Key Topics

Establishments in the historic sites industry primarily preserve and exhibit sites, buildings, forts or communities that describe events or persons of particular historical interest. These venues include archeological sites, battlefields, historical ships and pioneer villages.

Industry Performance



Executive Summary



Key External Drivers



Current Performance



Industry Outlook



Industry Life Cycle



Products & Markets



Supply Chain



Products & Services



Major Markets



Globalization & Trade



Business Locations



Competitive Landscape



Market Share Concentration



Key Success Factors



Cost Structure Benchmarks



Barriers to Entry



Major Companies



Operating Conditions



Capital Intensity



Key Statistics



Industry Data



Annual Change



Key Ratios

About IBISWorld Inc.



Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://bit.ly/1pIQQ44 or call 1-800-330-3772.

Related Reduce Debt Press Releases

If you enjoyed this post, you should read this: Weekly Home Sales Fall But Show Seasonal Strength

The post Historic Sites in the US Industry Market Research Report from IBISWorld Has Been Updated appeared first on SmiLoans.

from WordPress http://bit.ly/1FPGQlt

via IFTTT