The postponement and cancellation of events due to the Covid-19 outbreak have left the industry gasping. March and May are the crucial months for the market, which has now been affected by the pandemic. The big event management companies have sent an SOS to the government seeking urgent steps to help them sustain their business as all the bookings till July have been cancelled.
But in the past few weeks, many meetings and conferences have been held virtually, as players from the event industry are focusing on improvising their offerings. There are discussions over what will be their next step and how can they continue to earn money through event management. Some organizers have proactively begun their journey towards the tech transformation; some are just waking up to the possibilities.
Organizers who were planning to cancel or postpone their events have considered virtual or hybrid models as a viable alternative. It has enabled the public to reach their ultimate goal: meet prospective buyers and sellers through conferences to stay up to date.