VenueDataSource is happy to share with you the latest “Business Barometer,” in which positive trends are evident.

For example, looking at the average ratings during the course of the full 2014 year, most managers indicated that current business conditions are better than the prior year (64 percent), as evidenced by the fact that the majority felt that attendance (54 percent), revenue (61 percent) and the number of events (50 percent) increased. But this improvement came with a cost, as 25 percent reported increasing their full-time head counts, and two-thirds said it increased their full and part-time labor costs.

Perceptions of future business prospects are even more optimistic, with three-quarters of the managers predicting that attendance (72 percent), revenue (75 percent), and business overall (77 percent) will increase.

Business is good and poised to get even better.

Download the latest “Business Barometer” to learn more about business conditions in your sector (e.g., arenas, convention centers, etc.), and visit the VenueDataSource page to stay up-to-date with the latest research that will help make you informed business decisions.

The NBA’s Milwaukee Bucks unveiled images last week of the teams new, multipurpose arena and sports and entertainment district set in downtown Milwaukee, Wisconsin.

“We’re not just trying to build a new home for the Milwaukee Bucks, but create a 365-day attraction for Wisconsin residents that will help revitalize downtown Milwaukee,” said Bucks President Peter Feigin in a statement. “We’re excited to share this glimpse of our vision for the future as we continue to work with our local and state partners to arrive at a viable plan. This collective effort will create a ripple effect of growth, development, and transformation for the entire community and region.”

The Bucks hired architectural firm Populous to lead the project.

“These early conceptual renderings represent the owners’ vision to create a world-class facility and year-round destination that will revitalize downtown Milwaukee and spur growth and development throughout the region,” said Brad Clark, senior designer at Populous. “We envision this dynamic entertainment experience as one that could seamlessly connect to the greater Milwaukee community. The goal is to design a lasting symbol for all of Wisconsin, pairing the crafted scale of Milwaukee’s architecture and innovative spirit with the natural beauty of the state.”

The proposed site, which primarily sits between Fourth and Sixth streets from State Street to McKinley Avenue, will seamlessly link with active development on all sides, including Old World Third Street, Schlitz Park, The Brewery, the Milwaukee riverfront, Water Street, and the Wisconsin Center.

The Bucks and Populous aren’t the only ones excited about the project. So are the fans, as evidenced via Twitter.

I’m extremely excited for this project & glad the @Bucks ownership group envisions developing a community, instead of just an arena #MKE

— Joe Gricar (@jgricar) April 8, 2015

If the renderings for the news @Bucks Arena and entertainment district don’t get you excited for this team city and state, you have no pulse

— Tyler Price (@tylerprice1819) April 8, 2015

Bucks new arena looks dope

— Ryan Braun (@justin_dietman) April 8, 2015

The World Travel & Tourism Council (WTTC) released its “Economic Impact” report last month, showing a positive trend in employment.

“2.1 million new jobs were generated directly in the sector in 2014, and in total 6.1 million new jobs were created as a result of total direct, indirect, and induced activity,” the organization wrote in the report. “The total contribution of Travel & Tourism to employment grew 2.3 percent in 2014, while the total GDP contribution grew 3.6 percent, faster than wider economy in 2014 and registering positive growth for the fifth successive year. This is again evidence that Travel & Tourism is a key engine for continued global growth and job creation.”

The WTTC expects Travel & Tourism in 2015 to generate around 7.2 million new jobs in total, with 2.1 million new jobs directly created within the sector.

“This represents growth rates of 2.6 percent and 2.0 percent respectively,” the WTTC wrote.

This is good news for venues, because they are part of the travel cycle as illustrated by the WTTC graphic below showing how money travels.

The U.S. Tennis Association (USTA) broke ground last week on a $60 million facility in Lake Nona, Florida. The USTA National Campus will reside on 63 acres and be home to sports-related businesses and organizations.

“Plans call for a tournament and league area with 24 clay courts and 16 hard courts; a University of Central Florida tennis area with 12 hard courts, elevated seating and facilities for 1,200 spectators; a Team USA area with eight hard courts and eight clay courts; and a player-development area with eight hard courts, eight red-clay courts and six covered courts,” Mary Shanklin reported for the Orlando Sentinel. “The space includes dormitories for 32 youth players and an area with eight courts that are shorter than regulation.”

The USTA will move its entire workforce to the new headquarters in Lake Nona.

“This new home for American tennis will truly be a game-changer for our sport,” said USTA Chairman of the Board and President Dave Haggerty in a statement. “This world-class facility will be an inclusive gathering place for American tennis and will allow us to impact our sport at every level, from the grassroots to the professional ranks.”

The facility is expected in fall 2016.

Imagine putting on your virtual reality (VR) device and shooting hoops in your favorite arena. That scenario is one step closer thanks to technology developed by Ultrahaptics. The technology allows VR users to receive tactile sensations from 3-D objects floating in mid-air. It does so by using sound waves on your skin.

“If you go to a night club or a rock concert, you feel the music in your chest. And it’s the same principal—you feel the sound vibrating your chest,” Professor Sriram Subramanian told Reuters. “And instead of using the bass sounds, what we use is low frequency ultrasound—about 40 kHz—and that way we can target it at a precise point on your finger tip or on your palm, and then you feel the palm vibrate and it feels precise as well.”

The device is still in the prototype stage, but the company recently received a $900,000 investment that will help speed along development.

Subramanian said that as the touchless technology (think, waving your hand to turn off a light) trend continues, more people will want tactile feedback.

“You can see the object and maybe you can interact with this object visually, but you don’t feel anything,” Subramanian said. “What we’re offering is that missing feeling [of] these holographic objects. That I think is the crucial distinction as well as the advantage of what we’re offering. We’re not saying get rid of the holographic display. What we’re saying is, attach our system to it and then you can start feeling objects as well as seeing them. This gives you better finesse, control.”

More of the story can be found on Reuters.

(Image: Ultrahaptics)