Trade Show Industry Bucks Sluggish Overall Economy, Surges 2.6 Percent in Q1 2016
June 6, 2016
Driven by strong industry sectors including building, construction, food and transportation, as well as overall growth in trade show industry revenues, the Center for Exhibition Industry Research Index report indicated that the industry continued its growth streak in Q1 this year, with a 2.6-percent increase, compared with the same quarter last year.
The results were positive, despite a sluggish macroeconomy, and marked the 23rd consecutive quarter of year-on-year growth.
“The exhibition industry is off to a good start in 2016,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc. “As the economy rebounds from the weak first quarter, the exhibition industry will gain further ground.”
During the three years through 2014, the exhibition industry growth generally lagged the pace of GDP, but the industry has now outperformed the macroeconomy for five quarters straight.
The strong year-on-year growth in the Building, Construction, Home and Repair, Communications and Information Technology, Food, Government and Transportation sectors more than offset the weakness in the Industrial/Heavy Machinery and Finished Business Inputs and Raw Materials and Science sectors.
Just a few of the show that performed well in the first quarter were Natural Products Expo West, which had record attendance in Anaheim; NY NOW, which grew its attendance in New York City; and World of Concrete also grew in Las Vegas.
All four exhibition metrics in the fourth quarter posted year-on-year gains. As was the case during 2015, the strongest metric was Real Revenues (nominal revenues adjusted for inflation), which rose an impressive 5.4 percent, followed by Net Square Feet with an increase of 3.0 percent. Exhibitors increased 1.9 percent, whereas Attendees only slightly, with 0.1 percent.
“The exhibition industry continues to show steady and consistent performance,” said CEIR President and CEO Brian Casey, CEM.
He added, “We are looking forward to delving into how these figures fit into the overall economy and how industry executives can use these results in their strategic planning during the upcoming CEIR Predict conference.”
Predict: CEIR’s Annual Outlook Conference will be held Sept. 14-15 at the Ronald Reagan Building and International Trade Center in Washington, D.C.
The event provides an outlook on the global economy and the exhibition industry’s performance. Visit www.ceir.org/predict for more details.
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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