The Arts, Entertainment and Recreation sector includes a wide range of companies that provide services to meet the cultural, entertainment and recreational interests of their patrons. From live performances and events to exhibits of historical, cultural or educational interest, these businesses enable patrons to pursue amusement, hobby and leisure-time interests.
The market size of the Arts, Entertainment and Recreation industry is expected to increase 11.9% over last year and is incredibly popular among consumers. In fact, the art and culture market grew to $579.52 billion by the start of 2023, trending at a high growth rate. Given that foreign tourists visit the United States to experience the services provided by these businesses, and that the number of inbound trips by non-US residents is expected to increase, this represents great opportunity.
