Center for Exhibition Industry Research (CEIR), a provider of industry-leading research, released its latest 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 percent for the year as a whole, one percentage point higher than in 2013 and just slightly below the 2.0 percent forecasted growth.
CEIR Index for the Overall Exhibition Industry
CEIR Index for the Overall Exhibition Industry, Percent Change
According to CEIR 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 percent and 5.1 percent. Alternately, the weakest exhibition sector was Education (ED), where the index declined by 3.0 percent”.
CEIR Index by Industry, Percent Change, 2014
“We are optimistic for the performance of the industry overall this year. Economic and job growth should continue to drive expansion in exhibitions,” said Allen Shaw, Ph.D., economist, CEIR, and chief economist, Global Economic Consulting Associates Inc.
The overall CEIR index is forecast to grow at a relatively robust rate of 2.8 percent, 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 percent in 2016 and 2.0 percent 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 1.0 percent 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.
After its initial release, a forecast update of the Index will be presented at the CEIR Predict conference Sept. 16-17 in Chicago. 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.
“This year’s Predict will delve deeper than ever before into the relationship between the overall U.S. economy and how the exhibition industry plays into it,” said Britton Jones, 2015 chairman, CEIR, and president & CEO, Business Journals Inc. “Attendees will learn about innovative approaches to adapting their business models, marketing and strategic plans to maximize the forecast for the next three years.”
CEIR sincerely appreciates the support it has received from sponsors of this year’s Index:
Global Experience Specialists (GES)
Visit Orlando/Orange County Convention Center
Las Vegas Convention & Visitors Authority
Massachusetts Convention Center Authority
Messe Frankfurt GmBH
National Trade Productions
New Orleans Metropolitan Convention & Visitors Bureau
Ungerboek Software International
Georgia World Congress Center
IAEE New York Area Chapter
IAEE Washington, D.C. Chapter
Kuehne & Nagel, Inc.
Oscar Einzig Productions