Q3 CEIR Index Drops .07 Percent; Consumer, Travel and Retail Shows Challenged

December 7, 2017

Led by a third-quarter drop in Real Revenues of 3 percent, compared with the same quarter in 2016, the Center for Exhibition Industry Research reports that performance of the exhibition industry is down 0.7 percent.

The decrease was a result of factors related to several large exhibitions in the Consumer Goods and Retail Trade (CG) and Sporting Goods, Travel, and Amusement (ST) sectors.

The weaknesses in those events were attributable to event-specific factors not related to the overall exhibition industry or the economy, as both consumer disposable income and consumption expenditures remain strong, according to CEIR.

Excluding the CG and ST sectors, the exhibition industry gained 2.8 percent, compared with a year ago.

“The decline was a temporary setback as economic fundamentals still point to moderate growth for the exhibition industry,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc. Shaw further notes, “In looking at performance of the industry cumulatively from Q1 through Q3, all metrics remain in positive territory."

He added, “Even with the negative performance in Q3, the overall Index growth for the first three quarters still achieved a moderate 1.6 percent growth rate. Nonetheless, the exhibition industry lagged U.S. GDP growth of 2.2 percent during the same period.”

All exhibition metrics in the third quarter posted negative year-on-year losses, except Attendance, which gained 3.4 percent.

Real Revenues (nominal revenues adjusted for inflation) posed the largest decline of 3.0 percent whereas Exhibitors and Net Square Feet declined 2.1 percent and 1.1 percent, respectively.

The results in the Attendance metric for the third quarter bodes well for the exhibition industry, as Attendance is a leading indicator.

CEIR CEO Cathy Breden, CMP, CAE added, “While the results of the third quarter might appear dire, it is important to keep in mind that without the outliers, the exhibition industry gained 2.8 percent over a year ago. Our industry is still forecast to grow through year-end.”

Add new comment

Partner Voices
Here at Mandalay Bay, venues are inviting and innovative. As one of the most iconic names on the Las Vegas Strip, the Mandalay Bay Convention Center has recently undergone an exciting upgrade. This renowned venue now offers everything your business needs, with a refreshed convention space designed to inspire productivity and creativity, as well as an impressive selection of world-class restaurants and amenities. If you're searching for a venue that is both inviting and innovative, Mandalay Bay is the place to be. Mandalay Bay is committed to investing in a new wave of enhancements, not only in the convention space but also throughout the entire resort. With new restaurant openings and remodels, spectacular entertainment, and updated rooms, Mandalay Bay promises to deliver new and exciting experiences to its guests until 2024. To create a truly effective conference venue, Mandalay Bay has carefully considered what businesses require. The right technology, capacity, and inspiration are essential to take ideas to the next level. The refreshed Mandalay Bay Convention Center has been designed with your business in mind. Every room is equipped with newly-upgraded technology, enhancing our ability to support bandwidth demand and overall data capabilities. Additionally, the addition of 10 new digital walls provides bigger and more dynamic ways to display customized content messages. Mandalay Bay offers world-class conference space and service. The venue options range from ballrooms to ample pre-function spaces, catering to teams of any size while accommodating multiple large groups simultaneously. Our certified planners work collaboratively with you to understand your specific event requirements, anticipating your business needs and offering the best-fit solutions. In addition to providing exceptional conference facilities, Mandalay Bay is also dedicated to sustainability. We strive to give our guests an unforgettable experience while minimizing our impact on the environment. As part of our sustainable energy efforts, you'll find refillable water stations throughout the property, eliminating the need for single-use plastic bottles and reducing unnecessary plastic usage. Mandalay Bay is proud to offer an upgraded and enhanced experience for businesses seeking a venue that combines innovation, convenience, and sustainability. Whether you're hosting a conference, meeting, or other business event, Mandalay Bay's refreshed convention space, world-class service, and commitment to sustainability make it the ideal choice. Come and discover the new wave of experiences awaiting you at Mandalay Bay on the Las Vegas Strip. Wherever your organization is going, getting there starts with being here.