Museums, Zoos and Parks NAICS 7121

May 28, 2025 - Faster Growth Forecast

• Sales for the US museums, zoos, and parks industry are projected to grow at a CAGR of 6.73% between 2025 and 2029, faster than the overall economy's projected growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. Spending by US households and tourists, foreign students, and other visitors largely drives the arts, entertainment, and recreation industries. According to the forecast, real spending for museum and libraries has experienced a steady recovery since the pandemic, with gains of 12.5% in Q3 2024. Consumer confidence is expected to improve in the forecast period, which bodes well for the sector. A factor that may curb consumer spending is substantially higher tariffs on consumer goods. Lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026. Real income could suffer if average prices rise due to tariff implementation.
• Consumer confidence levels, an indicator of discretionary spending, fell in April 2025 month over month, dropping by 7.9 points, according to the Consumer Confidence Index from the Conference Board. Consumer confidence levels have fallen for five consecutive months, reaching levels not seen since the beginning of the COVID pandemic, according to The Conference Board, which publishes the monthly index. In addition, the final index of consumer sentiment from the University of Michigan dropped 8% in April 2025 from the previous month, according to CFO Dive. An index measuring consumers’ expectations for the future fell nearly a third since January, the steepest three-month percentage decline since the 1990 recession. According to survey director Joanne Hsu, “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”

• The National Park Service is managing a series of staffing and real estate decisions implemented by the new Trump administration, including eliminating 1,000 probationary staff and canceling more than 30 NPS building leases that house visitor centers, law enforcement offices, and museums. According to a statement by Kristen Brengel, SVP of government affairs for the National Parks Conservation Association, “As peak travel season arrives, park visitors will have to contend with closed visitor centers and campgrounds, canceled ranger programs, and less search and rescue staff. If building leases are canceled, it will make these problems worse.” The San Francisco Gate reports that the Department of the Interior is offering NPS employees separation incentives, including severance payments of up to $25,000 to leave the agency this spring. Two US District Court judges have ordered that all fired probationary workers be reinstated, including the 1,000 NPS employees, but the agency has appealed the orders.
• The National Park Service (NPS) reported a 2% increase in attendance in recreational visits in 2024, reaching a record 331.0 million visits. The total includes 404 of the 433 National Park System units that report visit use. Of the 404 parks, 28 parks set a record for annual recreation visits. Overnight stays at concession-operated lodging were up 11.7% in 2024 year over year. NPS reported that visitors are spreading out their visits throughout the year. About 55% of parks recorded an above average number of visits in February through June and October through December. National parks were most popular type of NPS-managed site, accounting for 28% of all recreational visits in 2024, followed by national recreational areas (16%), and national memorials (12%).