The Center for Exhibition Industry Research (CEIR), in its analysis of the latest data collected for the CEIR Index, reports that overall exhibition industry activity increased by 3.8% from the level one year-ago during the fourth quarter of 2011, and rose by 2.7% for the year 2011 as a whole. After a brief pause in the second quarter of 2011, the growth of the exhibition industry picked up its pace…
The Center for Exhibition Industry Research (CEIR), in its analysis of the latest data collected for the CEIR Index, reports that overall exhibition industry activity increased by 3.8% from the level one year-ago during the fourth quarter of 2011, and rose by 2.7% for the year 2011 as a whole. After a brief pause in the second quarter of 2011, the growth of the exhibition industry picked up its pace. The industry’s performance continued to surpass real GDP, which only grew by 1.6% during the fourth quarter of 2011, compared to the final quarter of 2010.
The forecast for 2011 was for 2.3 percent industry growth; however, actual growth was 2.7% which is 15% better than forecast. The exhibition industry outperformed GDP for three of the four quarters during 2011 and by 1% (2.7% versus GDP 1.7%) for the year. Since most exhibitions are typically trailing economic indicators, only time will tell if the industry can continue to outperform the overall economy.
CEIR’s economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc., said, “The positive momentum of the exhibition industry, which has experienced six consecutive quarters of growth, gives strong reassurance that the industry has emerged from the economic downturn and is making progress toward recovery.”
CEIR Index data for the fourth quarter of 2011 show increases in all four metrics of measurement. The metrics are Net Square Feet (4.2%); Revenue (5.1%); Professional Attendance (3.6%); and Number of Exhibiting Companies (2.4%). The exhibition index showed a year-on-year gain that was 1.1 percentage points higher than the corresponding figure for the third quarter, from 2.7% in 2011Q3 to 3.8% in 2011Q4. This is an impressive achievement given the fact that the macro economy was still sluggish, with the unemployment rate stuck at a relatively high level of 8.7%.
The 2011 CEIR Index will be published this spring and will detail the exhibition industry’s progress, long-term comparisons and predictions for the next three years. CEIR President and CEO Doug Ducate, CEM, CMP, said, “We are very pleased with the results we are seeing. The data continues to show a positive upswing and confirms the prediction of moderate growth made in last year’s Index. This is very positive for the industry and the individual sectors.”
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 exhibition industry performance across 14 key industry sectors: Business Services; Consumer Goods; Discretionary Consumer Services; Education; Food; Financial, Legal and Real Estate; Government; Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Inputs; Communications and Information Technology; Medical and Health Care; Raw Materials and Science; Sporting Goods, Travel and Entertainment; and Transportation. The CEIR Index will be released at SISO CEO on 26 March 2012 and a forecast update will be presented at the CEIR Predict conference in New York on 13 September 2012.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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