The coronavirus pandemic caught the whole world off-guard. Countries implemented lockdown measures to prevent the spread of the deadly virus. It is indeed an unusual scenario – people were advised to stay inside their homes, business establishments were closed, and transportation was put on halt. As expected, the economy took a huge blow as everything went on standstill.
The event industry is among those seriously affected by the coronavirus pandemic. Thriving in the number of people attending the shows, this pandemic presented an exceptional challenge to organizers. They have to balance the health and safety of the people and the need to conduct their business to be able to meet their financial obligations. The coronavirus pandemic caused a major disruption to scheduled events. Money, time, and energy have already been invested and organizers were in a rush to minimize the losses caused by this pandemic.
We realize the gravity of the situation but let’s take a look at the numbers to fully understand the impact of COVID-19 on the event industry. These figures are taken from the Professional Convention Management Association, a global network of event strategists.
26 million people who work in the global event industry have been affected by this pandemic.
87% of event planners said that they have canceled their shows due to COVID-19.
66% have postponed their events.
61% are still undecided if they would cancel or postpone their upcoming events.
70% have moved their offline events to virtual platforms.
63% are now cultivating skills that will allow them to thrive in online platforms.
43% of business event professionals experienced salary reduction, layoff, and other adverse effects on their employment.
More than half of the respondents felt that attendees would be hesitant to participate in future events unless a vaccine for COVID-19 is developed.
These numbers give us a clearer picture of how the coronavirus pandemic has impacted the event industry. While some effects were undesirable, this pandemic showed the resilience of everyone involved in the industry. The transition to online platforms gave them an opportunity not only to continue their shows but also to enhance their skills. Instead of being down and beaten, event planners face the challenge brought about by this pandemic with hope and determination. They will continue to devise strategies to elevate the event experience in other platforms.
