DATA: Was 2022 a normal year for revenue in attractions?
- In Benchmarks
- Data bits
- 3 min read
Data from Dexibit’s global portfolio of visitor attractions.
In October 2022, revenue at visitor attractions finally reached ‘normal’ in comparison to pre-pandemic times, as did visitation.
Revenue recovery has been steadily gaining over the course of the year up after starting at 48% of normal in January in a near linear line with a brief hill in July. Its recovery has been a lot steeper than that of visitation, which had already opened the year at 81% of 2017 – 2019 levels.
Interestingly, revenue recovery had previously peaked in April at 102%, a time when visitation, though typically up for the start of the northern high season, had dipped in its own recovery journey to 80%, which would be its lowest month of the year.
As at October for the year to date, revenue recovery is now at 81%, a figure which will hopefully increase as the year rounds out to see 2022 as its first normal financial year since COVID-19.
Using Dexibit?
Business models of visitor attractions are complex. Revenue comes from many different lines of business – consumer or otherwise. This might include ticketed admission, exhibitions, events and experiences, retail from brick and mortar or ecommerce, food and beverage, hires such as for weddings, third party partnerships such as IMAX theaters, membership, donations, grants and so much more. It’s a lot to track and analyze!
In Dexibit you can upload or integrate with your point of sale and other sources such as ticketing or membership. With this data, you can define your lines of business, group and label data, determine what constitutes ‘per cap’ and slice by line.
In your dashboards, you can then visualize:
- Performance such as year on year growth, mean and highlights; data over time trends
- Per cap analysis in conjunction with visitation
- Comparisons with other metrics, such as goals or visitation
- Reporting for channel partner settlement (such as ticket resellers or revenue shares)
- Forecasts to aid with financial planning
Revenue recovery comparing post versus prepandemic
Pooja Padhi
Machine Learning Engineer
Working across both data engineering and data science at Dexibit, Pooja is a data enthusiast with tremendous experience in data modelling, mining, analytics and visualisation, with a keen interest in forecasting and machine learning.
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