Traveling on: Rising disposable income will boost travel, supporting industry growth

In recent years, rising levels of disposable income and increased consumer spending have generated demand for industry services among domestic consumers, while favourable exchange rates caused by the weak Canadian dollar have encouraged a substantial number of international clients to host conventions and plan vacations in Canada. However, industry growth has been limited by declining corporate profit margins, which have constrained the ability of domestic companies to participate in conferences and conventions. Though external competition will continue to grow in coming years, the industry is expected to benefit from improving domestic and global economic conditions...read more.

Industry Statistics & Market Size
Revenue
$303m
Annual Growth 12-17
3.9%
Forecast Growth 17-22
Profit
Employment
2,135
Businesses
199

Industry Threats & Opportunities

  • Rising levels of disposable income and increased consumer spending have generated demand for industry services
  • New technology has introduced significant competition for convention and visitor bureaus
  • Rising consumer confidence and incomes will bolster consumer spending on travel-related items
  • Industry Report - Industry Products Chapter

    Convention planning and hosting servicesConvention centres market and promote their province, city and facility as a place for organizations to host conventions, expositions, conferences, reunions, galas, meetings and other events. As a result of the economic benefits that arise from convention bureaus attracting visitors, local and provincial governments provide significant funding for industry establishments. For example, PavCo, which oversees the operation of the Vancouver Convention Centre and BC Place, estimates that the events that its establishments host inject more than $400.0 million into the economy of British Columbia each year. Con...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 Corporate profit in the Convention & Visitor Bureaus industry impact industry performance..

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    What's in this report

    What is the Convention & Visitor Bureaus Industry?

    This industry is composed of convention and visitor bureaus, which market and promote communities and local facilities to business and leisure travellers, assist organizations in locating meeting and convention sites, provide travel information on an area’s attractions and accommodations and organize group tours of local attractions.

    Industry Products
  • Convention planning and hosting services
  • Visitor information and sightseeing tour services
  • Industry Activities
  • Convention planning services
  • Visitor information and sightseeing tour services
  • Conference, reunion and gala planning services
  • Exposition planning and hosting services
  • Reserving tickets for travel and events
  • Operating welcome centres
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Corporate profit
  • Inbound international travel
  • Leisure time
  • Consumer Confidence Index

  • Current Performance
  • Keeping up with consumer preferences
  • Growing green
  • Chart: Revenue Growth

  • Industry Outlook
  • Competing for attention
  • Industry landscape
  • Table: Convention & Visitor Bureaus Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Convention & Visitor Bureaus Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Travel Agencies in Canada
  • Trade Show & Event Planning in Canada
  • Hotels & Motels in Canada
  • Tour Operators in Canada

  • Key Selling Industries
  • Graphic Designers in Canada
  • Office Supply Stores in Canada
  • Printing in Canada
  • Trade Show & Event Planning in Canada

  • Products & Services
  • Convention planning and hosting services
  • Visitor information and sightseeing tour services
  • Other
  • Chart: Convention & Visitor Bureaus Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Leisure travellers aged 35 to 54
  • Leisure travellers aged 55 and older
  • Leisure travellers aged 34 and younger
  • Business travellers
  • Chart: Major Market Segmentation for the Convention & Visitor Bureaus Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesMarketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Convention & Visitor Bureaus

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Convention & Visitor Bureaus Industry

  • Industry Globalization
    Vancouver Convention Centre, Metro Toronto Convention Centre, Palais des congres de Montreal, Ottawa Convention Centre,
  • Table: Vancouver Convention Centre - financial performance
  • Table: Metro Toronto Convention Centre - financial performance
  • Table: Palais des congres de Montreal - financial performance
  • Table: Ottawa Convention Centre - financial performance

  • 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
    Table: Industry Data for the Convention & Visitor Bureaus Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer spending (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Convention
  • A large meeting or conference that typically takes place over several 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.
  • What Our Customers Say

    Why buy this report?

    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.

    IBISWorld industry market research reports enable you to:
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    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 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 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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