U.S. Trade Show Industry Growth Jumps 2.9 Percent in Second Quarter
August 31, 2017
After a slow start to the year, the second quarter of 2017 in the U.S. trade show industry jumped into high gear, posting 2.9-percent overall growth, compared with the same quarter last year, according to the Center for Exhibition Industry’s latest Index Report.
Also, in the first time since the fourth quarter of 2016, the trade show industry out-performed the macroeconomy, with real GDP growing 2.2 percent year over year.
"The increase in the second quarter validates our prediction that economic fundamentals continue pointing to moderate growth for the exhibition industry," said CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates, Inc.
Building, Construction, Home and Repair; Government; Communications and Information Technology; and Discretionary Consumer Goods and Services all registered robust year-over-year gains.
In contrast, Raw Materials and Science and Business Services posted year-over-year declines. Raw Materials and Science failed to build on the modest gain during the first quarter as oil prices faltered.
All exhibition metrics in the second quarter posted positive year-over-year gains, with revenues and attendance seeing the biggest increases.
Real revenues (nominal revenues adjusted for inflation) posted the largest increase of 4.0 percent, followed by attendees, which rose 3.8 percent, whereas net square feet and exhibitors gained 2.1 percent and 1.8 percent, respectively.
Just one of the shows in the second quarter that saw big numbers was Lightfair International, held in May in Philadelphia.
The world’s largest annual architectural and commercial lighting trade show and conference registered 27,939 attendees from 81 countries spanning 277,600 net square feet of expo space, with registration exceeding its 2016 event and increasing 7.4 percent, compared with its 2013 Philadelphia show.
“I look forward to the conversations taking place at the CEIR Predict Conference on 14-15 September and hearing from both CEIR’s economist and other economic experts on their predictions for the remaining months of 2017," said CEIR CEO Cathy Breden, CMP, CAE.
She added, “There is a lot going on with a major hurricane in the oil refining stronghold of Houston and trade agreement negotiations.”
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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