Trade Show Industry Sees 1.8-percent Growth Uptick in Third Quarter
December 16, 2014
After last quarter, which saw slowing growth in the trade show industry, the third quarter bounced back with the 17th consecutive positive quarter showing, a 1.8-percent year-on-year increase overall, according to the Center for Exhibition Industry Research’s Index Report.
Even so, the growth of the exhibition industry index lagged a bit behind GDP growth for the second straight quarter, in contrast to the previous two quarters (2014Q1 and 2013Q4), where exhibitions grew slightly faster than GDP.
"We are very pleased by the third quarter results and confirm our forecast that the exhibition industry will gain momentum," said CEIR's economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
The growth of the CEIR Total Index averaged 1.9 percent during the first three quarters of 2014, just 0.1 percent point shy of the 2.0 percent forecasted for 2014 the year as a whole, as published in the 2014 CEIR Predict Report.
The only metric of the four measured by CEIR that did not see year-on-year growth in the third quarter was real revenues.
The strongest performer was the number of exhibitors, which rose 3.7 percent. Net square feet increased 2.1 percent, whereas professional attendance was up 1.9 percent.
Nominal revenues increased just 1.2 percent year-on-year, weighted down by a moderate decline in consumer goods and retail trade exhibitions. Adjusted for inflation, real revenues declined by 0.5 percent year-on-year, according to CEIR.
The trade show industry saw another big boost last week when more than 2,000 trade show organizers and suppliers were in Los Angeles to take part in three days of networking, education sessions and a bustling showfloor at the 2014 International Association of Exhibitions and Events’ Expo! Expo!
The exact number of attendees, 2,104, was a significant jump, compared with 2013, with also more than 1,000 show organizers on hand this year.
Putting a spotlight on the state of the industry right now, IAEE also held a media forum with several trade show industry executives who talked about current challenges.
David DuBois, president and CEO of IAEE, said the overall industry is seeing growth, with more and more interest coming from international attendees and exhibitors.
Bradley Kent, who heads sales at the Dallas Convention & Visitors Bureau, said the recession caused a lot of consolidation in the industry. “Customers have more voice and more choice,” he added.
Megan Tanel, from the Association of Equipment Manufacturers, said, “We are questioning a lot of antiquated models,” adding that they are especially looking at rising costs that are not tied to receiving the same value.
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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