Second-quarter Trade Show Industry Net Square Footage Growth Jumps 5.7 Percent
July 15, 2013
With the darkest days of the recession fading and attendee numbers already seeing healthy increases at trade shows, it only was a matter of time before exhibitors would up their booth space, exhibit at a show for the first time or return if they had been away.
Second-quarter net square footage for the hundreds of shows tracked by a2z's Quarterly Tradeshow Industry Index Report is up 5.7 percent, compared with the same time period last year.
The uptick for the second quarter continued the trend from the first quarter of this year, which saw a quarter-over-quarter net square footage increase of 3.1 percent.
For the full report click HERE.
This good news comes after last month’s Center for Exhibition Industry Research’s Index report for Q1 2013 that showed overall trade show industry growth of 1.3 percent, compared with the previous year’s quarter.
The CEIR Index is based on four metrics that, besides net square footage, includes attendance, revenue and number of exhibiting companies.
CEIR’s Q1 2013 1.3 percent overall trade show industry growth shows a positive uptick for the 11th consecutive quarter, though it lagged behind 1.8-percent GDP growth for the same quarter.
For more information on the Q1 2013 CEIR Index click HERE.
According to the a2z index, more net square footage growth is expected through the third quarter of this year, with an anticipate increase of 3 percent.
“This is encouraging news, especially with 10 out of 15 vertical markets experiencing growth in NSF, up two from Q1 of FY 2013,” said a2z's President and CEO Rajiv Jain.
He added, “This overall increase in NSF was driven by strong performances by Food and Industrial/Heavy Machinery, both of which verticals witnessed more than 30-percent increase in NSF in Q2 of FY 2013 over FY 2009.”
Other sectors that saw double-digit Q2 2013 increases in net square footage included Communications/Information Technology (21.8 percent), Transportation (16.3 percent) and Raw Materials and Science (11.6 percent).
However, there were sectors that lost space in the second quarter, compared with the previous year’s quarter, such as Education and Non-profit, Discretionary Consumer Services and Goods and Government.
Published since 2011, the a2z Quarterly Industry Index is based on data collected from hundreds of shows that are managed using a2z's platform and is constructed on the base year 2009.
The Index reveals the overall tradeshow industry performance, a breakdown of vertical market performance, sales pacing of the last six months and the forecast for the next six months.
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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