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 renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
Add new comment