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
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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