CEIR Index Indicates 1.3 Percent Q1 Growth Rate in Trade Show Industry
June 12, 2013
The pace of growth may be slowing, but the trade show industry still just keeps moving in a positive direction, with the Center for Exhibition Industry Research’s Index showing a 1.3-percent increase to kick off the first quarter of this year, compared with the same time period last year.
Even though it’s the eleventh straight quarter with an uptick, the year started out lagging behind the overall GDP, which saw 1.8 percent growth, compared with Q1 2012.
The fourth quarter of 2012 ended with a more modest growth rate of 0.9 percent, according to CEIR.
"Overall, the first-quarter results are positive and confirm that the exhibition industry has survived and emerged from the recession," said CEIR's economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
He added, "With 11 consecutive quarters of growth, as well as our predictions closely matching outcomes, we are confident in the continued growth and progress of the industry."
Good news for shows was that net square footage and exhibitors both saw positive gains, 2.3 and 2.2 percent, respectively, in the first quarter of this year, along with revenue, with a 1.0-percent increase.
After several quarters of attendance growth, however, there was a small decline of 0.2 percent in the first quarter of 2013, which CEIR attributed to less participation from government personnel.
With not only increased scrutiny on events in the government sector, but also sequestration, both are challenges faced in not only specific sector, but also shows that typically draw government attendees.
"With the decline in attendance, we are closely monitoring business-to-business exhibitions especially for trade shows that depend on government employees' participation to determine how much of the attendance decline is directly attributable to Sequestration," said CEIR President and CEO Douglas L. Ducate, CEM, CMP.
He added, "Based on media reports from lawmakers in Washington, it appears unlikely that both parties will reach an agreement on a ‘grand bargain’ in the near future; therefore, this period of uncertainty is likely to continue through 2013."
The CEIR Index measures year-over-year changes in four key metrics to determine overall performance: Net Square Feet of Exhibit Space Sold; Professional Attendance; Number of Exhibiting Companies; and Gross Revenue.
The CEIR Index also provides exhibition industry performance across 14 key industry sectors.
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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