CEIR Index: Q4 2013 Indicates Big Trade Show Industry Uptick
February 23, 2014
The overall health of the trade show industry received a huge boost in the fourth quarter, according to the Center for Exhibition Industry Research’s Index.
The fourth quarter of last year ended on a high note, with an uptick of 3 percent, compared with the much smaller .04 percent growth in the third quarter of 2013 and 0.7 percent growth recorded in the fourth quarter of 2012.
Q4 2013 also marks the 14th straight quarter of increases in the trade show industry. In more good news, the latest results also outperformed GDP, which saw 2.7 percent growth in the same quarter.
"With the fourth quarter's results and 14 consecutive quarters of growth, and our predictions closely matching outcomes, we are confident in the continued growth and progress of the industry,” said CEIR's economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates, Inc.
He added, “The exhibition industry has survived and emerged from the Great Recession, and we are confident that the upswing will continue.”
The year ended at 1 percent overall growth, just about in line with economist’s predictions of 1.1 percent growth.
Leading the increases in Q4 last year was Professional Attendance, which jumped 5.8 percent year-on-year, the biggest gain since the third quarter of 2007.
FABTECH, which was held in November at Chicago’s McCormick Place, was just one show that saw a big attendance jump in that quarter to 40,667, an 11-percent increase.
Exhibitors and Real Revenues rose 3.0 percent and 3.6 percent, respectively. Net Square Feet was the only metric that suffered a year-on-year decline, dropping by 0.5 percent.
The CEIR Index also tracks across 14 industry sectors, including transportation; sporting goods, travel and entertainment; and communications and information technology, to name a few.
"Performance varied by industry, and the top performing sector was Industrial/Heavy Machinery and Finished Business Inputs (ID) where the index increased by 6.9 percent. In contrast, the weakest sector was Government (GV), where the index declined,” said CEIR President and CEO Brian Casey.
He added, “This was not surprising, since the industry was negatively affected by government budget cuts impacting trade shows."
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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