A prominent think tank has issued a report critical of the ongoing “arms race” between competing cities building convention facilities when that business is actually shrinking.
Among the Brooking’s Institute findings: Attendance at the top 200 trade shows has sunk to 1993 levels.
Despite the decline, localities are investing massive resources in facilities intended to lure such events.
Over the last decade, public capital spending on convention centers has doubled to $2.4 billion annually, with a 50 percent increase in exhibition space, the report finds.
Forty four new convention centers are now being planned or are under construction.
Report by David Wilkening
