Exhibition Industry Continues to Grow, According to CEIR 2019 Second Quarter Results 

September 9, 2019

In line with the macroeconomy, exhibition industry growth continued during the second quarter of 2019 but at a slower pace, according to the Center for Exhibition Industry Research. The CEIR Total Index, which is a measure of exhibition industry performance, posted a year-over-year gain of 1.6 percent even though it underperformed against the overall economy as reflected in the inflation-adjusted GDP.

“The growth during the second quarter indicates that the exhibition industry is on track to register a ninth consecutive year of growth, albeit slowing growth as was forecasted by our economist in the 2019 CEIR Index Report,” said Cathy Breden, CEO of CEIR.

While discretionary consumer goods and services; industrial/heavy machinery and finished business inputs; and communications and information technology all registered robust year-over-year gains, financial, legal and real estate; consumer goods and retail trade and sporting goods; travel and amusement posted year-over-year declines.

This upward trend for some industries was reflected in TSNN’s recent coverage of a few shows, including the 2019 National Restaurant Association Show, which experienced a 3-percent increase in attendance compared to 2018 as well as record exhibit space sales for the fifth year in a row.

Coverings, the largest international tile and stone conference in North America, also experienced a significant uptick in attendance at its 30th annual show, which drew in approximately 27,000 industry professionals from more than 90 countries, marking an 8.6 percent increase over the year before. 

According to the CEIR Index, all exhibition metrics in the second quarter posted positive year-over-year gains except for exhibitors. Real revenues (nominal revenues adjusted for inflation) and attendees posted the largest increase of 3.8 percent and 3.7 percent, respectively, while net square feet rose 0.2 percent and exhibitors dropped by 1.3 percent.

Predict, CEIR’s annual conference that will take place Sept. 16-17 at the MGM National Harbor just outside of Washington, D.C., will address the most current forecast and how it is affecting the 14 industry sectors. The session will feature Dr. Lindsey Piegza, chief economist of Stifel Fixed Income; Dennis Slater, president of the Association of Equipment Manufacturers (AEM); and Jerry Howard, CEO of the National Association of Home Builders, and will be moderated by mdg Principal Vincent Polito.

The CEIR Index Report provides an economic overview of the exhibition industry, including key indicators for growth. The 2019 CEIR Index Report includes a three-year forecast for the business-to-business exhibitions and events industry.

 

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Overview: The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality. In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way. “We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.” Amenities: The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.  The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need. Gold Key Members The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events. OCCC Events: This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.  The Center’s top five events during their 2022-2023 fiscal year included:  AAU Jr. National Volleyball Championships 2023 200,000 Attendees $257 Million in Economic Impact MEGACON 2023 160,000 Attendees $205 Million in Economic Impact Open Championship Series 2023 69,500 Attendees $89 Million in Economic Impact Sunshine Classic 2023 42,000 Attendees $54 Million in Economic Impact Premiere Orlando 2023 42,000 Attendees $108 Million in Economic Impact