CEIR Index Indicates Trade Show Industry Up 2 Percent for Full-year 2017
April 12, 2018
The Center for Exhibition Industry Research (CEIR) has released its 2018 CEIR Index Report, which analyzes the 2017 exhibition industry and provides an economic and exhibition industry outlook for the next three years.
The growth of the B2B exhibition industry accelerated along with the macro economy in 2017.
The CEIR Total Index, a measure of overall exhibition industry performance, increased by a moderate 2 percent, 1 percentage point higher than in 2016.
All four metrics rose in 2017, with real revenues leading at 2.9 percent above 2016. Attendees and net square footage rose 2.1 percent and 2 percent, respectively, whereas exhibitors gained 1.1 percent.
“Optimism in the business environment and robust economic and job growth should continue to drive exhibitions,” explained CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
He added, “The exhibition industry is expected to finally enter into an expansion phase in 2018 with the Total Index surpassing its previous peak.”
As an objective measure of the exhibition industry’s annual performance, the CEIR Index measures year-over-year changes in four key metrics to determine overall performance, including net square feet (NSF) of exhibit space sold, professional attendance, number of exhibiting companies and gross revenue.
The CEIR Index provides data on exhibition industry performance across the following key industry sectors: Business Services; Consumer Goods and Services; Discretionary Consumer Goods and Services; Education; Food; Financial, Legal and Real Estate; Government; Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Inputs; Communications and Information Technology; Medical and Health Care; Raw Materials and Science; Sporting Goods, Travel and Entertainment; and Transportation.
U.S. economic growth proved resilient again in 2017. GDP accelerated to 2.3 percent, a significant improvement over the 1.5 percent expansion registered for 2016 and an eighth consecutive year of moderate growth.
CEIR expects that GDP growth in the next few years will be propelled by a high rate of growth in personal consumption expenditures and improving private investment spending, in part due to recent tax cuts.
Strengthening, but moderate government expenditures, will provide an additional boost.
According to CEIR’s current projection, growth will rise to around 2.9 percent in 2018 before decelerating slightly to 2.7 percent in 2019 and 2.5 percent in 2020
Show organizers can use this latest data in tandem with the CEIR Index Event Performance Analyzer (IEPA) to measure their event’s performance.
Created with support from the Society of Independent Show Organizers (SISO), CEIR’s IEPA is designed to provide organizers a benchmark for how their exhibition is performing against the CEIR Index metrics.
The IEPA also compares the exhibition versus the overall performance of the industry sector and the exhibition industry overall.
A forecast update of the CEIR Index will be presented at Predict: CEIR’s Annual Exhibition Industry Conference taking place Sept. 13-14 at the MGM National Harbor in Oxon Hill, Md.
“The combination of the CEIR Index Report, CEIR Census and Event Performance Analyzer Tool is a powerhouse of resources to use in strategizing for the near future,” said Cathy Breden, CEO of CEIR.
She continued, “All this data is real-time information that, when factored into what the expert economists and futurists are telling us, allows for industry executives to feel confident in how they plan ahead. Exhibition organizer executives should plan to attend the CEIR Predict Conference to gain even more insight into what the next three to five years hold for the trade show industry.”
To purchase the complete 2018 CEIR Index Report, go HERE, or purchase the 2015 CEIR Census and 2018 CEIR Index as a package HERE.
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.
Add new comment