Tradeshows Post Moderate Growth in 2014
The industry recovery continues for fourth-consecutive year.
The tradeshow industry continued its steady recovery following the market collapse in the late 2000s, according to the Center for Exhibition Industry Research (CEIR).
The CEIR Index, a composite figure that accounts for net square footage (NSF), number of exhibitors, attendance and revenue of all major U.S. tradeshows, was up 1.8 percent last year. While the growth is slightly off the projected 2.0-percent return, it marks the fourth-consecutive year of positive gains.
The group is forecasting continued improvement over the next three years, as well. Projections show 2.8-percent growth this year, followed by 2.4- and 2.0-percent gains in 2016 and 2017, respectively.
"We are optimistic for the performance of the industry overall this year. Economic and job growth should continue to drive expansion in exhibitions," says Allen Shaw, CEIR economist and chief economist for Global Economic Consulting Associates, Inc.
Market-by-market performance varied considerably in 2014. Up 5.2 percent, financial, legal and real estate shows were at the top of the industry, followed by building, construction, home and repair (5.1 percent) and food (4.4 percent). Education (-3.0 percent), machinery and finished business outputs (-1.0 percent) were at the opposite end of the spectrum.