Trade Show Industry Growth Dips First Time in 25 Consecutive Quarters
February 27, 2017
The Center for Industry Research released its latest CEIR Total Index Report that indicated growth of the trade show industry declined during the fourth quarter of 2016.
Driven by a 1.8 percent drop in real revenues, the performance of the industry posted a modest year-on-year decline of 0.4 percent, after 25 consecutive quarters of year-on-year growth.
"The decline was a temporal set back as economic fundamentals still point to moderate growth for the exhibition industry" said CEIR Economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
The dip occurred only in three sectors: Industrial/Heavy Machinery and Finished Business Inputs, Raw Materials and Science and Consumer Goods and Retail Trade.
“We are hopeful this is a temporary downturn and the industry will rebound in Q1 2017,” said CEIR Foundation CEO Cathy Breden, CMP, CAE. “We look forward to the release of the CEIR Index Report in early April which will provide an overall view of 2016 performance and a forecast for 2017-2019.”
In sharp contrast, Building, Construction, Home & Repair, Communications and Information Technology, Food, and Sporting Goods, Travel, and Amusement all registered robust year-on-year gains.
All exhibition metrics in the fourth quarter posted negative year-on-year losses, except net square feet which gained 1.3 percent.
Real revenues (nominal revenues adjusted for inflation) posted the largest decline of 1.8 percent, whereas exhibitors and attendees declined 0.8 percent and 0.6 percent, respectively.
The exhibition performance varied substantially by industry in 2016. The best performing sectors were Food and Building, Construction, Home and Repair, which gained 5.8 percent and 5.2 percent, respectively.
On the other end of the spectrum, the weakest sector was Raw Materials and Science, in which the index declined by 7.3 percent.
As mentioned previously, this sector has been plagued by weakness in oil prices that led to declining investment and production levels; however, prices and investment recently have begun to recover.
The Industrial/Heavy Machinery and Finished Business Inputs sector registered the second largest decline of 4.5 percent, which could just be a correction after a whopping 11.0 percent jump in 2015.
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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