The Center for Exhibition Industry Research (CEIR) President & CEO Brian Casey, CEM recently reported the findings of the CEIR Index Report during a session at the Society of Independent Show Organizers CEO Summit. The CEIR Index analyzes the 2013 exhibition industry and provides a future outlook for the next three years. For 2013, the industry showed overall growth of 1.09 per cent and was in line with its economists’ forecast for the year. The outlook for growth in 2014 is projected to accelerate and continue through 2016.
“Even though 2013 only showed incremental growth, there was positive movement across a majority of the sectors and there was growth in all metrics,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc. “Each metric measured by the Index saw positive growth in 2013. Net Square Feet (NSF) grew 0.8%; the number of Exhibitors increased 0.5%; the number of Attendees increased 2.0%, and Real Revenues grew 0.9%. Of these metrics, the number of attendees finally exceeded the previous peak in 2007, which is great news since it is a leading indicator of the exhibition industry.”
CEIR Chairman Dennis Slater said, “The economy and the exhibition industry are both recovering and showing signs of slow but steady growth. From first-hand experience, I know the construction industry was hit hard during the recession, but from the results of our major event, CONEXPO-CON/AGG, I believe we are on the path to recovery. The trusted index data produced by CEIR will continue to be the source we need and depend on for the overall health of the exhibition industry.”
In addition to the Overall Exhibition Industry, nine sectors showed growth in 2013. Industrial/Heavy Machinery and Finished Business Outputs (ID) showed the most growth exceeding expectations with 6.9% growth. This sector was followed by Food (FD) with 5.0% growth; Sporting Goods, Travel and Amusement (ST) reported 2.8% growth; Business Services (BZ) showed 2.6% growth; Transportation (TX) saw a 2.2% increase; Consumer Goods and Retail Trade (CG) reported 2.1% growth; Communications and Information Technology (IT) grew 1.8%; and finally both Raw Materials and Science (RM) and Discretionary Consumer Goods and Services (CS) saw 1.5% growth. In contrast, Medical and Health Care (MD) experienced a nominal decline of -0.4%, Financial, Legal and Real Estate (FN) saw a -0.7% decline; Education (ED) declined by 0.8%; Building, Construction, Home and Repair (HM) declined by -1.2% and finally, Government (GV) saw a sizable decline of -6.1%
As an objective measure of the annual performance of the exhibition industry, 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 provides data on exhibition industry performance across 14 key industry sectors: Business Services; Consumer Goods; Discretionary Consumer Goods and Services; Education; Food; Financial, Legal and Real Estate; Government; Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Outputs; Communications and Information Technology; Medical and Health Care; Raw Materials and Science; Sporting Goods, Travel and Entertainment; and Transportation.
After its initial release, a forecast update of the Index will be presented at the CEIR Predict conference in Chicago, Illinois on 11 September 2014. Exhibition organizers who contributed data to the Index will receive the Index with the Introduction and Methodology, the Macro Economy and Overall Exhibition Industry, and the sector report in which their event(s) fall. For information on how to purchase the complete CEIR Index, click here.