Dallas– The trade show industry’s growth rate improved slightly in the Third Quarter, but remained just below last year’s 2.0% pace, the Center for Exhibition Industry Research (CEIR) said.
The latest CEIR Total Index issued November 29 reported that industry growth reached 1.9% during Q3, up slightly from 1.6% in Q2 and just shy of the 2.0% recorded in Q3 2015. The gains marked the impressive 25th consecutive quarter of overall growth for the CEIR Total Index.
Attendance was back on track in Q3 and was a major contributor to the uptick, CEIR said. Growth in crowd sizes was a mere 1.1% and was overshadowed by a 2.1% increase in exhibitors, a 2.2% hike in exhibit space, and a 2.2% growth in real revenues. The growth in attendance was, however, a welcome contrast to the (0.2)% decline seen in Q2 and the flat Q3 2015. Support for attendance was seen in the Transportation, Medical and Health Care and Building, Construction, Home & Repair sectors. The gains offset softness in oil industry events.
Brian Casey, President & CEO of CEIR, said the improvement in the overall economy also bode well for trade shows. “The revised GDP growth rate for the third quarter of this year looks to exceed 3%, which offers a glimpse at a continued positive path for the exhibition industry,” he said. “We continue to maintain a favorable outlook for the coming year as well, which should be good for everyone’s business.”
Reach Brian Casey at (972) 687-9242 or firstname.lastname@example.org