The United States economy appears to be slowly recovering from the effects of the Great Recession, but some sectors are bouncing back more quickly than others. The effect on and future of the trade show industry was addressed at a recent conference.
As reported by TSNN, the general consensus at the Center for Exhibition Industry Research Predict Conference held in Chicago on Sept. 11 was that things are looking up for the sector. Although Brian Casey, president and CEO of CEIR, said that industry growth has been lower in 2014 than his organization predicted, he noted that growth did still occur at a modest rate of 1 percent in the second quarter, citing numbers from the latest CEIR Index.
In terms of the bigger picture, the U.S. economy seems to be on the right track, according to presenter Ryan Sweet, senior economist for Moody's Analytics.
"We are going to see a noticeable acceleration of the U.S. economy, and it's been a long time coming," said Sweet, as quoted by the news source. He went on to predict that the overall GDP will see modest growth by year's end, and 2015 will continue to build on this positive uptick.
This is good news for event organizers in the sense that companies enjoying prosperity are more likely to participate in trade shows. It also suggests that the events are likely to get bigger and better over the next couple of years as firms with elaborate trade show booth ideas begin to work these into their budgets. As the economy picks up, don't be surprised to see trade show attendees raise their game in the exhibition hall.