Trade Show Industry Q4 Growth Ticks Up 2.5 Percent: 1.9 Percent for 2018 overall
March 4, 2019
Despite headwinds, the Center for Exhibition Industry Research reports that the recent growth of the exhibition industry continued during the fourth quarter of 2018.
The growth of the industry, as measured by the CEIR Total Index, accelerated from a year-over-year gain of 0.9 percent in the third quarter to 2.5 percent in the fourth quarter.
“The performance during the fourth quarter shows the resilience of the exhibition industry despite uncertainties surrounding the trade negotiation with China, volatile stock markets and slowing world economic growth,” said CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates, Inc.
Food; Government; and Raw Materials and Science all registered robust year-over-year gains.
In contrast, Consumer Goods and Retail Trade; Financial, Legal, and Real Estate; and Transportation posted year-over-year declines.
All exhibition metrics in the fourth quarter posted positive year-over-year gains. Real revenues (nominal revenues adjusted for inflation) and attendees posted the largest increase of 4.4 percent and 3.2 percent, respectively.
Net square feet (NSF) rose 1.6 percent and exhibitors expanded 1 percent.
For the year 2018 as a whole, the Total Index increased by 1.9 percent, just slightly lower than the 2.0 percent gain in 2017. At 109.0 (2014=100), the Total Index in 2018 surpassed the previous peak of 107.6 in 2007.
“Nearly a decade after the Great Recession, the exhibition industry in 2018 has finally entered an aggregate size above the previous peak,” said CEIR CEO Cathy Breden, CMP, CAE.
She added, “Barring an unexpected recession, the overall growth for the industry in 2019 will continue, albeit at a modest pace, as the economy remains healthy, even though a little softer than 2018.”
In addition to compiling the quarterly exhibition index, CEIR also offers analytical tools, an annual in-depth report and an outlook conference. 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 2019 CEIR Index Report will be released in April and will include a three-year forecast for the business-to-business exhibitions and events industry.
The annual CEIR Predict Conference, scheduled for Sept. 16-17 at the MGM National Harbor, will provide exhibition professionals with macroeconomic insights and help attendees understand the economic and political factors impacting the exhibition industry.
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
Add new comment