CEIR TOTAL Index: Trade Show Industry Continues Its Growth Streak in Q1 2018
May 31, 2018
The Center for Exhibition Industry Research reports that the recent growth of the exhibition industry continued during the first quarter of 2018.
The performance of the industry, as measured by the CEIR Total Index, posted a decent year-over-year gain of 1.8 percent, even though it underperformed the overall macroeconomy.
"The increase in the first quarter supports our prediction that the exhibition industry will finally enter into an expansion phase in 2018 with the Total Index surpassing its previous peak," said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Inputs; and Government all registered robust year-over-year gains.
In contrast, Consumer Goods and Retail Trade and Education posted year-over-year declines.
Just one first quarter mega-show that boosted its numbers was CES, the world’s largest consumer technology event, which set a new size record this year with a 2.75 million net square foot expo floor featuring 3,900 exhibitors.
Held Jan. 9-12 at the Las Vegas Convention Center and venues throughout the city, the 51st annual event for the global tech industry attracted more than 175,000 attendees from 150 countries.
In 2017, CES spanned 2.6 million net square feet, with its attendance and exhibitor numbers on par with this year.
All exhibition metrics in the first quarter posted positive year-over-year gains. Real revenues (nominal revenues adjusted for inflation) posted the largest increase of 2.8 percent, followed by net square feet which rose 2.0 percent, whereas attendees and exhibitors gained 1.8 percent and 0.7 percent, respectively.
“The first quarter of 2018 demonstrates that even in times when some sectors may be struggling, the total CEIR Index indicates the exhibitions industry is poised for steady growth,” said CEIR CEO Cathy Breden, CMP, CAE.
The CEIR Event Performance Analyzer provides exhibition organizers with a tool to measure how an event is performing in its sector, as well as 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 13-14 September at the MGM National Harbor, will provide exhibition professionals with insights from Chief Economist Dr. Lindsey Piegza of Stifel Fixed Income. Dr. Piegza will help attendees understand the economic factors impacting the exhibitions industry.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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