Convention and Visitors Bureaus — Business Survival Rate
An estimated 52% of convention and visitors bureaus businesses survive their first 5 years, based on U.S. Census Bureau Business Dynamics Statistics. The annual business closure rate is 12.2%.
Is Convention and Visitors Bureaus a Good Business to Start?
With a 52% five-year survival rate, convention and visitors bureaus is near the national average (~50%). This means roughly half of new entrants will still be operating after 5 years — typical business risk that rewards solid planning and execution.
The annual exit rate of 12.2% indicates moderate turnover. Success depends on differentiation, location, and operational efficiency rather than inherent industry advantages.
Entry vs. Exit Rates
Annual rate of new businesses opening versus existing businesses closing.
Net positive: more businesses opening than closing (+2.6 pp spread).
Job Creation & Destruction
The industry is adding jobs faster than losing them — a positive sign for both workers and new business owners looking to hire. Total employment: 184,542 workers across 10,611 firms.
Want to know how much convention and visitors bureaus businesses actually make?
See full revenue benchmarks for Convention and Visitors Bureaus →Frequently Asked Questions
- What percentage of convention and visitors bureaus businesses fail?
- Approximately 48% of convention and visitors bureaus businesses fail within their first 5 years. The annual closure rate is 12.2%, with 775 firms closing permanently in 2023.
- Is the convention and visitors bureaus industry growing or shrinking?
- The convention and visitors bureaus industry is currently growing with a net job creation rate of +9.2% per year. New businesses are entering at 14.7% while 12.2% close annually.
Source: U.S. Census Bureau, Business Dynamics Statistics (2023). Survival rate estimated from annual exit rates.