WORLD - The Center for Exhibition Industry Research (CEIR) claims there will be minimal growth through 2013 but the exhibition industry will gain momentum in 2014.
CEIR released its second quarter results, and found that for the 12th consecutive quarter, the trade show industry has continued to grow, but at a slow pace.
The group said that while the growth of the exhibition industry was on par with GDP in the first quarter, the exhibition industry slightly lagged behind the macro economy as real GDP gained 1.4 per cent year-on-year.
Year-over-year growth increased 1.2 per cent overall, down 0.3 per cent compared with the second quarter of last year.
"Overall, the second-quarter results continue on a positive upswing, and they confirm that the exhibition industry has effectively weathered the recession and is a valuable business practice despite ongoing uncertainty from lawmakers in Washington," said CEIR economist Allen Shaw.
Cutbacks in government attendance at shows resulted in a 10 per cent decline in Government sector shows’ overall metrics in the second quarter of 2013.
According to CEIR economists, the building, construction, home and repair sector declined by 1.8 per cent, even though real estate construction had a strong rebound during the same period.
There were several sectors that saw positive numbers, such as professional business services, increasing 3.9 per cent, raw materials and science, increasing 3.9 per cent, and food, increasing 3.4 per cent.
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.
Professional attendance proved to be the strongest metric, up at 3.9 per cent, the biggest gain since the first quarter of 2012. Real revenues increased 1.4 per cent, but were down compared to two per cent over the same time in 2012.
CEIR reported the net square feet metric was flat this quarter and down from a one per cent increase in the second quarter of last year. Exhibitors declined by 0.5 per cent compared to a 0.1 per cent increase that was seen during the same time last year.
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