Trade Show Industry Continues to Grow 1.6 Percent in Q2 2018
September 7, 2018
The trade show industry continues to modestly grow into the second quarter of this year, according to the Center for Exhibition Industry Research.
The performance of the industry, as measured by the CEIR Total Index, posted a moderate year-over-year gain of 1.6 percent, even though it underperformed the macroeconomy.
“The growth of the exhibition industry should pick up the pace during the second half of the year as the economy remains strong despite uncertainties surrounding an escalating trade war and the political environment,” said CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
The Government; Industrial/Heavy Machinery and Finished Business Inputs; Sporting Goods, Travel and Amusement; and Raw Materials and Science sectors all registered robust year-over-year gains.
In contrast, Financial, Legal and Real Estate and Education posted year-over-year declines.
All exhibition metrics in the second quarter posted positive year-over-year gains. Real revenues (nominal revenues adjusted for inflation) and attendees both posted the largest increase of 1.9 percent, followed by net square feet, which rose 1.8 percent, whereas exhibitors gained 0.7 percent.
Several industries have been in a secular decline including Business Services; Consumer Goods and Retail Trade; Education; and Financial, Legal and Real Estate sectors.
“Anemic growth in the number of exhibitors is in part attributable to secular downward trends evidenced in these sectors,” said CEIR CEO Cathy Breden, CMP, CAE. “Barring any other negative downward trends in the economy, and until any of these sectors stabilize, the overall growth for the industry will remain modest.”
The CEIR Event Performance Analyzer provides exhibition organizers with a tool to measure how an event is performing in its sector, as well as in 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 Sept. 13-14 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 exhibition 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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