2019 CEIR Index Report Shows Strong Growth in Government, Food Sectors

May 3, 2019

Last week, Center for Exhibition Industry Research released its 2019 CEIR Index Report, which analyzes the 2018 exhibition industry and provides a three-year economic outlook for the exhibition industry.

Among the findings detailed in the report: strong acceleration of the U.S. economy, rising from 2.2% growth in 2017 to 2.9% in 2018, representing nine consecutive years of growth.

In accordance with the U.S. economy growth, the exhibition industry’s performance finally surpassed its last peak, and is anticipated to break new ground performance-wise through 2021, according to the report. The Total Index, which measures overall exhibition industry performance, increased by 1.9%, only slightly less than the 2.0% increase in 2017.

When it comes to growth by sector, government led the pack, rising 7.8%, followed by food (5.4%) and discretionary consumer goods and services (3.6%). However, several sectors also faced challenges, including financial, legal and real estate, which experienced a 2.6% decline; and consumer goods and retail trade, falling 1.8%.

“Moderate economic, job and personal disposable income growth should continue to drive exhibitions,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, in the report.

However, Shaw notes the downward trend in financial, legal and real estate; consumer goods and retail trade; and education may exert a drag on the overall performance of the exhibition industry. CEIR expects the total index growth to slow to 1.4% this year and to 1.1% in 2020 as the economy settles into a slower, yet more sustainable growth path.

On Sept. 16-17, CEIR plans to present a forecast update of the CEIR Index Report at the ninth-annual CEIR Predict conference at MGM National Harbor outside Washington, D.C. Additionally, exhibition professionals in attendance will gain insight on macroeconomics for the industry and why things are happening the way they are.

“We are eager to share new information and perspectives that industry executives have come to rely on from CEIR,” said CEIR CEO Cathy Breden. “The data from the latest CEIR Index, combined with the knowledge of guest economist Dr. Lindsey Piezga [and] other forward-looking sessions, will provide attendees with an excellent predictive edge to use in their future strategic planning and business development efforts.”

To purchase a full copy of the report, go here. You can also learn more about CEIR Predict here.

Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE and engage with us on Twitter, Facebook, LinkedIn and Instagram!

Add new comment

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.