UW Releases First-Ever Comprehensive Needs Assessment of Wyoming’s Outdoor Recreation Business Sector

The University of Wyoming Jay Kemmerer Wyoming Outdoor Recreation, Tourism and Hospitality (WORTH) Institute released the first comprehensive outdoor business needs assessment ever conducted for the state of Wyoming.

The report, developed in partnership with Founded Outdoors and informed by research contributions from students in the UW outdoor recreation and tourism management degree capstone class, offers policymakers, support organizations and industry stakeholders an unprecedented look at the economic conditions, operational challenges and growth opportunities facing Wyoming’s outdoor recreation businesses.

Outdoor recreation contributed $2.3 billion to Wyoming’s global domestic product in 2024 -- 4.5 percent of the state’s total GDP -- and employed more than 16,500 people. Despite that scale, the sector has never had a resource like this -- a data-driven profile of what Wyoming’s outdoor businesses are; what they need; and where the gaps in support lie.

“Wyoming’s outdoor recreation economy is large, and it has not been studied to this degree before. This report changes that,” says Dan McCoy, director of UW’s Jay Kemmerer WORTH Institute. “For the first time, we have a clear, data-driven picture of who these businesses are; what they’re up against; and what they need to grow. We hope this report becomes a foundational resource for the industry and the state.”

The report draws on a survey of 111 Wyoming outdoor businesses and in-depth interviews with 19 business owners across 18 of the state’s 23 counties. Respondents include guides, outfitters, retailers, lodging operators, rental companies, venue and infrastructure providers, and manufacturers active in fishing, hunting, hiking, equestrian sports, boating, snow sports and other activities. Research insights also were contributed by students in the Outdoor Recreation and Tourism Management degree capstone class, whose analysis helped shape the report’s findings and framing.

 

Key Findings

The report finds that Wyoming’s outdoor business landscape is dominated by experienced, long-established operators. Nearly three-quarters of surveyed businesses have been in operation for more than a decade, while new entrants are rare. Business health is mixed: nearly half of respondents reported 2025 sales below expectations, and pessimism outpaced optimism across the sample. The most-cited operational challenges include seasonality, weather-related disruptions, rising operating costs, workforce hiring and retention difficulties, and marketing.

Two-thirds of business owners were either unaware of existing business support resources; did not use them; or found them to have limited impact, a significant gap given the scale and complexity of challenges the sector faces. Business needs also varied by region: gateway-area businesses reported being stretched thin by demand; west-region businesses reported greater financial stress; and east-region businesses were often less connected to support networks.

Across interviews, a recurring theme was the outdoor industry’s undervalued economic role in Wyoming’s policy landscape. Many business owners expressed frustration that outdoor recreation is frequently deprioritized in permitting, land use and economic development decisions relative to extractive industries.

“Wyoming’s outdoor entrepreneurs are resilient, creative and deeply committed to their communities, but they’re navigating real headwinds without nearly enough support,” says Enhao Li, chief operating officer for Founded Outdoors. “This report gives us the evidence base we need to design programs that fit what these businesses are dealing with.”

To access the report, go to https://doi.org/10.15786/wyoscholar/10163.

The report’s authors and members of Wyoming’s outdoor recreation community will report their findings during a webinar, titled “Wyoming Outdoor Recreation Business Needs Assessment and Opportunities” from noon-1 p.m. Thursday, June 11. The webinar is free and open to the public, and there will be a question-and-answer session. To register, go here.  

About the Jay Kemmerer WORTH Institute

The Jay Kemmerer WORTH Institute advances its mission, expanding and diversifying Wyoming’s economy through the outdoor recreation, tourism and hospitality industries, by delivering applied research, workforce development and statewide engagement. The institute is housed within UW’s Research and Economic Development Division.

About Founded Outdoors

Founded Outdoors is dedicated to helping outdoor entrepreneurs thrive. Through educational programs, business-building resources and a vibrant community, Founded Outdoors supports the growth of outdoor businesses and partners with state outdoor recreation offices, outdoor business alliances and economic development groups to provide strategic guidance and lead the implementation of regional programs.