New study released

Impact of coronavirus on European convention sector

sg - Wednesday, July 1, 2020    

Impact of coronavirus on European convention sector
© Tourism Economics

The Strategic Alliance of the National Convention Bureaux of Europe has released the results of a study on “The Impact of Coronavirus on Europe’s Convention Sector”. The analysis, prepared by Tourism Economics, aims at providing a constructive narrative of the meetings and conference sector’s pathway through the crisis and has developed three scenarios to reflect the possible range of outcomes from this crisis.

The baseline scenario assumes that all planned events scheduled between March and August are cancelled across Europe, with some recovery in September and October seeing up to 75% of all planned events within a given month going ahead and full recovery by November. Altogether, total event visits in Europe are expected to fall by 58% in 2020. Under this model, some negative sentiment effects are anticipated for event participation, which would result in a reduction in average attendance in 2021 and 2022 of 25% and 5% respectively, before fully recovering in 2023. The upside and downside scenarios indicate that business convention tourism will fall between 36% and 77% in 2020 with a sharp recovery under the upside and a more prolonged one under the downside scenario.

In developing the three scenarios, the study considered the actions that governments, businesses and individuals take to curb the outbreak as they primarily influence how the coronavirus impacts the meetings and conference industry.

gcb.de/study-on-impact-of-coronavirus-on-european-convention-sector

 

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Categories and Tags

Meetings Industry | Strategic Alliance of the National Convention Bureaux of Europe | Study | Coronavirus | Economy