|Last Quarterly Update:||2/17/2014|
|SIC Codes:||7999, 8412, 8422|
|Industry Overview||Trends & Challenges||Industry Forecast|
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|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry operate museums, historical sites, zoos, botanical gardens, parks and other institutions focused on preserving and exhibiting works of cultural or natural significance. Major US institutions include the Art Institute of Chicago, the Colonial Williamsburg Foundation, the Metropolitan Museum of Art, the San Diego Zoo, and the Smithsonian Institution.
Major institutions based outside the US include the Musée du Louvre in Paris, the British Museum in London, and the Circuito Archeologico Colosseo e Palatino in Rome. The International Council of Museums estimates that there are about 55,000 museum establishments in more than 200 countries worldwide. This industry also includes an estimated 10,000 zoos and aquariums, according to the Association of Zoos and Aquariums.
The US museums, zoos, and parks industry includes about 7,300 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $14 billion. Establishments in the US industry include about 4,800 museums, 1,200 historical parks, 600 zoos and botanical gardens, and 700 nature parks and other similar institutions.
Most institutions in the industry are nonprofits. Historical sites and parks are often operated by federal, state, local, and tribal government entities.
Demand is partly linked to growth in local income and to tourist travel. The profitability of individual institutions depends largely on good marketing. Large institutions have the advantage of name recognition or proximity to mass tourism areas. Small institutions can ...
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