The US exhibition industry grew 3.2% in 2007 – the fifth consecutive year of industry expansion – according to the fifth annual Center for Exhibition Industry Research (CEIR) Index report, which provides exhibition industry performance data for 11 industry sectors.
The 2007 industry growth rate was below the 4.8% gain posted in 2006 but surpassed the 2.2% year-over-year growth rate for real US Gross Domestic Product (GDP), The Jordan, Edmiston Group, Inc. (JEGI) said.
The gain in 2007 drove a 2.5% CAGR (compound annual growth rate) from 2000-2007, the period covered by the CEIR report, it said.
JEGI is the Title Sponsor of the CEIR Index and provides analysis of exhibition performance. The Index measures annual changes in four key metrics to determine overall performance: net square feet; attendees; exhibitors; and revenue.
Among the key findings:
- Over the course of the period covered by the report (2000-2007), the CAGR of all four exhibition industry metrics was positive: (+3.1%); revenue (+3.1%); attendees (+2.0%); and exhibitors (+1.5%).
- From 2006 to 2007, revenue increased 6.8%, followed by attendees, 4.9%; exhibitors, 0.9%; and net square feet, 0.3%.
- From 2006 to 2007, exhibition industry growth was led by the government, public and nonprofit services sector (+12.6%), while the building, construction, home and repair sector experienced a slight downturn:
- Several market sectors drove growth for the industry from 2000 to 2007, including sports, travel, entertainment, art and consumer services (+5.3% CAGR); transportation (+5.0% CAGR); and building, construction, home and repair (+4.3% CAGR).
- Only the consumer goods and retail trade and the communications and information technology sectors decreased on a CAGR basis from 2000 to 2007.
About the CEIR Index: Veris Consulting collected the data from the more than 300 events and created the CEIR Index results. The Alfred P. Sloan Foundation Travel & Tourism Industry Center at the University of South Carolina provided economic analysis for the CEIR Index. Trade Show Executive magazine provided design elements for the final report. Other contributors were American Business Media (ABM); the Exhibition Industry Foundation (EIF); the International Association of Exhibitions and Events (IAEE); the Professional Convention Management Association (PCMA); and the Society of Independent Show Organizers (SISO).