CEIR Index Q3 Numbers Indicate Continued Slowdown of Overall Trade Show Industry Growth
November 20, 2013
Despite 13 straight quarters of trade show industry growth, as tracked by the Center for Exhibition Industry Research, the third quarter showed slowing growth of 0.2 percent, compared with 0.9 percent in the same quarter last year.
Three metrics showed decline, also compared with the same quarter last year – net square feet, exhibitors and attendees – with real revenues the only increase in the third quarter since the same period in 2012.
The results also showed continued slowing growth in contrast to the overall economy, which saw the GDP gaining 1.6 percent year-on-year in the third quarter.
"The paltry growth was due mainly to a 2.1-pecent year-over-year decline in attendees, which in part is attributable to the budget impasse,” said CEIR's economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
He added, “Poor attendance appeared in many industries, especially the Government (GV) and Education (ED) sectors.”
The government shutdown that occurred Oct. 1-16 impacted more than 800,000 federal employees who were furloughed during this time, some of whom were planning to attend events that were cancelled, postponed or held with lower attendance.
Though attendance declined in the third quarter, there was slight growth in the other three metrics, compared with the second quarter.
Net square feet increased 0.6 percent, exhibitors rose 0.2 percent and real revenues gained 2.2 percent.
CEIR had predicted the present slowdown in growth through 2013, with it gaining speed again into 2014.
There still were some bright spots in the third quarter, including PMMI’s biennial PACK EXPO Las Vegas that took place in September at the Las Vegas Convention Center.
The show spanned more than 740,000 square feet and attracted 1,700-plus exhibitors and 28,000 attendees. The previous PACK EXPO Las Vegas came in at 700,000 sq. ft., 1,600 exhibitors and 26,000 attendees.
Messe Frankfurt’s Texworld USA also saw exhibit space growth in July at the Jacob K. Javits Convention Center of New York.
In addition, woodworking saw a boost in showfloor numbers at the 2013 AWFS (Association of Woodworking & Furnishing Suppliers) Fair when it was held July 24-27 at the Las Vegas Convention Center.
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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