Exhibition Industry Grew Modestly in Q3, Says CEIR Report
December 12, 2019
The exhibition industry continued to grow, albeit modestly, during the third quarter of 2019, according to the Center for Exhibition Industry Research’s quarterly exhibition index report. The CEIR Total Index, which measures exhibition industry performance, posted a year-over-year gain of 0.6 percent even though it underperformed the overall economy as reflected in the inflation-adjusted GDP.
While the trade show industry’s moderate third quarter performance proved to be weaker than the first two quarters of the year, it showed a slight improvement over the same quarter in 2018 when the industry registered an underwhelming year-over-year gain of 0.2 percent.
“The growth of the exhibition industry should pick up the pace moderately during the fourth quarter of the year through the first half of next year despite uncertainties surrounding trade negotiations with China and slowing world economic growth,” said CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
According to the report, industry sectors including communications and information technology; building, construction, home and repair; and food all registered robust year-over-year gains, while education; discretionary consumer goods and services; raw materials and science reported year-over-year declines.
All exhibition metrics in the third quarter demonstrated positive year-over-year gains except net square feet, which real revenues (nominal revenues adjusted for inflation) and exhibitors posted the largest increases of 1.7 percent and 0.6 percent, respectively. Meanwhile, expo attendance rose a mild 0.5 percent and net square feet dropped 0.3 percent.
“In line with the macroeconomy, the growth of the exhibition industry has continued but at a slower pace,” said Cathy Breden, CEO of CEIR. “The growth during the first three quarters 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.”
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Partner Voices
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
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