Total Revenue for Convention and Visitors Bureaus, All Establishments, Employer Firms
REVEF561591ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,717.00
Year-over-Year Change
95.89%
Date Range
1/1/1998 - 1/1/2022
Summary
This economic trend measures the total revenue for convention and visitors bureaus, which are businesses that promote tourism and events in a specific geographic area. It provides important insights into the health and economic impact of the hospitality and tourism industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Total Revenue for Convention and Visitors Bureaus, All Establishments, Employer Firms metric tracks the combined revenue generated by these organizations across the United States. It is a key indicator of tourism activity and the broader economic conditions affecting the travel and leisure sectors.
Methodology
This data is collected through surveys of convention and visitor bureaus by the U.S. Census Bureau.
Historical Context
Policymakers and industry analysts use this metric to assess the performance and outlook of the hospitality and tourism industries.
Key Facts
- Convention and visitors bureaus are responsible for promoting local tourism and events.
- This metric covers all employer firms, including both nonprofit and for-profit organizations.
- The hospitality and tourism industry is a major contributor to the U.S. economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by convention and visitors bureaus, which are businesses that promote tourism and events in specific geographic areas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and economic impact of the hospitality and tourism industry, which is a key driver of economic activity in many regions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of convention and visitor bureaus by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the performance and outlook of the hospitality and tourism sectors, which are important contributors to many local and regional economies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and updates due to the survey-based methodology used to collect this information.
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Citation
U.S. Federal Reserve, Total Revenue for Convention and Visitors Bureaus, All Establishments, Employer Firms (REVEF561591ALLEST), retrieved from FRED.