CEIR Reports 1 Percent Q3 Uptick in Overall Trade Show Industry Growth
December 6, 2018
Despite uncertainty on where U.S. trade negotiations stand with China, coupled with an unstable stock market and the global economy slowing down overall, the latest Center for Exhibition Industry Research (CEIR) reports that the recent growth of the exhibition industry continued during the third quarter of 2018.
Performance of the industry, as measured by the CEIR Total Index, posted a modest year-over-year gain of 1 percent, although it underperformed the macroeconomy.
While the performance during the third quarter was weaker than the first two quarters of the year, it was a significant improvement during the same quarter in 2017 when it registered a year-over-year decline of 2 percent.
“The growth of the exhibition industry should pick up the pace during the fourth quarter of the year and, at least, through the first half of next year as the economy remains strong despite uncertainties surrounding the trade negotiation with China, volatile stock market and slowing world economic growth,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
Discretionary Consumer Goods and Services; Government; and Medical and Health Care all registered robust year-over-year gains.
In contrast, Business Services; Consumer Goods and Retail Trade; and Education posted year-over-year declines.
All exhibition metrics in the third quarter posted positive year-over-year gains.
Real revenues (nominal revenues adjusted for inflation) and attendees posted the largest increase of 2.4% and 1.1%, respectively, followed by net square feet (NSF) which rose 0.6%, whereas exhibitors gained 0.1%.
Several industries have been in a secular decline including Business Services; Consumer Goods and Retail Trade; Education; and Financial, Legal and Real Estate sectors.
“Anemic growth in the number of exhibitors is in part attributable to secular downward trends evidenced in these sectors,” said CEIR CEO Cathy Breden, CMP, CAE. “Barring any other negative downward trends in the economy, and until these sectors stabilize, the overall growth for the industry will remain modest.”
The CEIR Event Performance Analyzer provides exhibition organizers with a tool to measure how an event is performing in its sector, as well as in the overall industry. The CEIR Index Report provides an economic overview of the exhibition industry, including key indicators for growth. Together, these resources provide insights for developing business strategies and goals.
The annual CEIR Predict Conference, scheduled Sept. 16-17 at the MGM National Harbor, outside of Washington, D.C., will provide exhibition professionals with macroeconomic insights and help attendees understand the economic and political factors impacting the exhibition industry.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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