Trade Show Industry Grows Impressive 4.6 Percent in Q1 2015
June 1, 2015
The severe winter weather in much of the U.S. didn’t put a damper on the trade show industry, with the Center for Exhibition Industry Research’s quarterly CEIR Index Report tracking growth to be 4.6 percent in Q1 2015, compared with the same time period in 2014.
It is the highest increase since the second quarter of 2007, in other words, before the recession hit.
"The performance in the first quarter was remarkable considering that the east coast was frequently paralyzed under severe winter weather," said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates.
Just a few of the shows that saw impressive results in the first quarter of this year included International CES, held in January in Las Vegas, with more than 176,000 attendees; International Plastics Showcase, held in March in Orlando, with more than 2,000 exhibitors; and World of Asphalt and AGG1 2015, which was held in March in Baltimore, Md., and broke records in attendance, net square footage and exhibitors.
The first quarter of 2015 also marked the 19th consecutive quarter of year-on-year growth.
While the growth of the exhibition industry lagged behind the GDP during most of last three years, the exhibition industry in Q1 2015 outperformed the macro economy as real GDP gained 2.7 percent year-on-year.
CEIR tracks four metrics and the strongest one was in Real Revenues, which rose an impressive 7.3 percent, followed by Net Square Feet – increasing by 4.1 percent.
Exhibitors increased 3.3 percent, while Professional Attendance, which could have been influenced by the severe weather, still rose a relatively strong 3.7 percent.
The industries that saw the most growth were Building, Construction, Home & Repair and Government, both of which had seen particularly challenging times in the past few years.
"We are very encouraged to see that the exhibition industry is continuing its upward climb. While industry growth has been moderate, the strong performance of Q1 is certainly offering positive indicators for the near future," said CEIR President and CEO Brian Casey, CEM.
He added, "After two challenging recessions, it's wonderful to see this kind of performance despite the impact of weather."
Click here for information on how to purchase the complete CEIR Index Report, which analyzes the 2014 exhibition industry and provides a future outlook for the next three years.
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