Historic Sites in the US - Industry Market Research Report

Founding fathers: Improving economic conditions are expected to support industry growth

Operators of historic sites primarily preserve and exhibit sites, forts, buildings or communities that describe events or people of historical interest. Enterprises generally operate as nonprofit organizations and many are partnered with government organizations and receive public funding rather than gathering revenue from admission fees. Over the past five years, the industry has been experiencing volatile conditions due to inconsistent funding and high competition. Though operators have benefited from rises in disposable income rates early in the period, the COVID-19 pandemic exacerbated negative trends and resulted in drastic declines in visitor rates later in the period. Despite favorable conditions, industry revenue has been declining at an average annualized 0.5% over the past five years, reaching an estimated $1.5 billion in 2023, when revenue is expected to increase 6.0%.

Enterprises in this industry primarily preserve and exhibit sites, buildings, forts or communities that describe events or people of historical interest. These venues include archeological sites, battlefields, historical ships and pioneer villages. Operators may be partnered with government organizations and receive public funding, gather revenue by charging admission and providing additional services or a combination of the two.

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's key players and their market shares.