CEIR Index Report: Trade Show Industry Posts 18th Consecutive Quarter of Growth
March 4, 2015
For the 18th quarter in a row, the trade show industry saw an overall uptick in growth in the fourth quarter of last year of 1.7 percent, compared with the same quarter in 2013, according to the Center for Exhibition Industry Research’s Index Report.
Although the trend still was positive, the growth was lower than the 2.3 percent that had occurred in the third quarter of 2014.
"With the fourth quarter's results and 18 consecutive quarters of growth and our predictions closely matching outcomes, we are confident in the continued growth and progress of the industry," said CEIR's economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
He added, "Additionally, in line with our expectations as published in the 2014 CEIR Index Report, the Total Index increased by a moderate 1.8 percent for 2014 for the year as a whole, just slightly below the 2.0 percent forecasted growth."
In the fourth quarter, and for the third quarter in a row, the trade show industry’s growth lagged slightly behind the GDP.
All four metrics tracked by CEIR in the fourth quarter saw positive numbers.
The strongest performer was in attendance, which rose 2.6 percent. The number of exhibitors, however, grew only .2 percent. Net square footage grew 2 percent and real revenues grew 2.1 percent.
Attendance continued its upward trend since the end of the recession in 2009, and in 2014, at 68.7 million, attendance has finally exceeded its previous peak of 68.4 million in 2007.
There were several shows in the fourth quarter that saw positive attendance gains, including the DEMA Show, with an 8-percent increase; MetroCooking DC, with a 30-percent increase; and PACK EXPO International, with a 6.5-percent increase, to name a few.
CEIR is in the final stages of analyzing the exhibition industry's 2014 overall performance to be released in the upcoming “CEIR Index, an Analysis of the 2014 Exhibition Industry and Future Outlook” in April.
In addition to examining the industry's overall performance, the CEIR Index takes an in-depth look at each of the 14 industry sectors in addition to providing an industry forecast for the next three years.
"Slowly but surely, the exhibition industry is gaining strength," said CEIR President and CEO Brian Casey, CEM. "The CEIR Index and Predict Outlook Conference are great resources that will provide us with more details as to what to expect and how to plan accordingly."
Predict: CEIR's Annual Outlook Conference will be held Sept. 16-17 at the JW Marriott in Chicago, where an expert economist will provide an outlook on the global economy and how the exhibition industry is faring nine months into the year. To apply to attend, visit www.ceir.org/predict.
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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