Today, the Center for Exhibition Industry Research (CEIR) released the CEIR Index Report. The CEIR Index analyzes the 2014 exhibition industry and provides a future outlook for the next three years. In 2014, the Total Index increased by a moderate 1.8 per cent for the year as a whole, one percentage point higher than in 2013 and just slightly below the two per cent forecasted growth.
According to CEIR’s President & CEO, Brian Casey, CEM, “the best performing sectors in 2014 were the Financial, Legal and Real Estate (FN) and Building, Construction, Home and Repair (HM) sectors, which respectively gained 5.2 per cent and 5.1 per cent. Alternately, the weakest exhibition sector was Education (ED), where the index declined by three per cent.”
“We are optimistic for the performance of the industry overall this year. Economic and job growth should continue to drive expansion in exhibitions,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
The overall CEIR index is forecast to grow at a relatively robust rate of 2.8 per cent, a full percentage point higher than the 2014 rate. Over 2016 and 2017, CEIR expects the overall exhibition industry to continue to grow strongly, albeit at a slower pace. The current projection shows growth at 2.4 per cent in 2016 and two per cent in 2017. Notably, this performance represents the fastest sustained growth in the history of the CEIR Index. By 2017, the Total index of the overall exhibition industry is expected to reach about one per cent below its previous peak in 2007.
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.