Although growth was nominal in 2013 — 1.09 percent, to be exact — the exhibition industry is projected to grow further, faster in 2014, according to the Center for Exhibition Industry Research (CEIR), which yesterday published its year-end CEIR Index research report, predicting accelerated industry growth through 2016.
“Even though 2013 only showed incremental growth, there was positive movement across a majority of the sectors and there was growth in all metrics,” CEIR Economist Allen Shaw, Ph.D., who also is chief economist for Global Economic Consulting Associates Inc., said in a statement.
The CEIR Index measures four exhibition industry metrics — all of which saw growth in 2013 — including the number of exhibitors, which grew 0.5 percent; the number of attendees, which grew 2 percent; revenue, which grew 0.9 percent; and net square feet of exhibit space, which grew 0.8 percent.
“Of these metrics, the number of attendees finally exceeded the previous peak in 2007, which is great news since it is a leading indicator of the exhibition industry,” Shaw continued.
Across sectors, growth was varied, with nine of 14 sectors studied showing growth. Industrial/heavy machinery and finished business outputs (6.9 percent) grew the most, followed by food (5 percent); sporting goods, travel and amusement (2.8 percent); and business services (2.6 percent). Government (-6.1 percent), building/construction/home/repair (-1.2 percent) and education (-0.8 percent) fared worst.
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