Global trade show cancellations have eclipsed the 500 mark, causing a major economic impact on the events industry. All eyes are now turning to event tech to connect audiences and help companies track the status of their own meetings.
The meetings and events industry is struggling to maintain business as usual due to the coronavirus outbreak, with UFI, a global exhibition association, estimating more than 500 trade shows being canceled or rescheduled across the world. In Europe alone, the economic impact is immense, with lost output currently at $16.5 billion due to canceled events — a figure that is expected to grow.
The World Health Organization now recommends social distancing (maintaining at least three feet between individuals) on top of its other hygiene recommendations, adding to the uncertainty felt by event organizers on how to proceed with scheduling.
Many are turning to virtual event platforms, which are receiving a huge burst of interest from planners who are finally ready to experiment with online events. As we noted in our latest events feature, companies are also seeking improved systems to track their own events and locations worldwide so they can better respond to an increasingly fluid environment.
If you have any feedback about the newsletter or news tips, feel free to reach out via email at [email protected].
— Lauren Ward, Events Editor
The Future of Meetings and Events
Groupize Expands Software to Manage Increasingly Complex Meetings Schedules: Companies looking to track events of all sizes in a single platform may have found a solution in the Groupize 3.0 platform. Rules can be a good thing — especially when it comes to automating employee permissions and budgets.
ITB Berlin’s Cancellation Had Only a Mild Impact on Short-Term Rental Owners: An upside for cities like Berlin that tighten short-term rental supply through regulation is that they’re less prone to price and occupancy shocks when something like the trade fair ITB Berlin cancels at the last minute.
How Travel Companies Themselves Are Taking Coronavirus Precautions: Travel companies are having to adapt not just to a new world for their customers, but for their staff too. This might be a temporary change, but when things return to normal, will our working habits revert as well?
Around the Industry
Are Singapore’s Tourism Players Creating a Model for a Post-Virus World? There’s no fixed playbook in responding to an unprecedented global health crisis like coronavirus, but Singapore is a good one to watch when it comes to crisis management and tourism recovery.
Airbnb, Expedia and Others Agree to Landmark Data-Sharing Deal with European Union: It’s hard to know whether greater transparency will benefit or hinder these short-term rental platforms. Might lawmakers use the information as a stick to wield over the industry?
Hotels Strive to Get Savvier About Forecasting Total Revenue: Software may be eating the world, but in hotel tech it’s still munching on the appetizers. Hotels have only begun to automate operational forecasts, such as how much revenue restaurants on a property may bring in or how much group business a hotel might steal from a crosstown rival.
The Best of EventMB
The Best of EventMB is our newest section, giving you a look into key content from EventMB, whether it be reports, articles, or resources for planners. EventMB joined the Skift family in September and is the largest online media resource for trends, technology, innovation, and education in the events industry.
Insurance Companies Limit Event Coverage for Coronavirus: If you’re thinking about adding coronavirus coverage to your next event’s insurance policy, you’re already too late.
Events Editor Lauren Ward [[email protected]] curates the Skift Meetings Innovation Report. Skift emails the newsletter every Wednesday.
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Photo credit: The meetings and events industry is feeling the impact of the coronavirus outbreak. Romain V. / Unsplash