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Economic impacts of the cancellation of a large conference

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Reference no: EM133187422

For this week's discussion you will consider the profound impact that business travel has on a destination by looking at the meetings and conference industry. When COVID-19 broke out to become a worldwide pandemic in 2020 many lives and livelihoods were altered. One industry that faced a major setback is conferences and events as these programs typically fall into the large gathering category. Meeting planners around the world were struggling with cancellations, contract clauses, and working to find new dates for their events. 

  • This abrupt and uexpected wave of cancellations also has a profound impact on the destination in which the event was to take place. Please review this financial times article postulating a downward spiral for the events industry and respond to the following:
  1. What are the economic impacts of the cancellation of a large conference in a destination?
  2. In the event of a global crisis, what can the DMO do to support their hospitality community as well as meeting planning clients?
  3. In your opinion, how has conference travel fared in the post-coronavirus world?

Reference no: EM133187422

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