Thailand’s event organising industry is in dire straits, with up to 90% of events already cancelled or postponed in the first quarter of 2020 amid the coronavirus outbreak.
Upathum Nisitsukcharoen, chief executive of event organiser Rightman Co and president of the Event Management Association, said that if the epidemic continues into the second half of the year, at least 50 small event organisers will likely have to shut down.
“Nonetheless, the new virus outbreak is not alone to be blamed,” Mr Upathum said. “The market itself has already faced a host of negative factors, be it the country’s economic slowdown, widespread drought or PM2.5 pollution. These factors undermine the mood and tone of clients who would launch events.”
The local event organising sector is valued at 12-13 billion baht annually. Some 400-500 event organisers are registered with the Commerce Ministry, with big companies including CMO Group, Index Creative Village Plc and Rightman.
Mr. Upathum said the events that have been postponed are mostly seminars and launches of new consumer products and cars, as well as the Got7 K-pop concert.
“With all the negative factors, particularly the Covid-19 outbreak, we estimate that 3-4 billion baht will be lost this year,” he said.
Kreingkarn Kanjanapokin, chief executive of Index Creative Village, said five big international exhibitions have postponed their events to April. Other events, including the S2O Songkran Music Festival, are under consideration for cancellation.
A source from a big event organiser said the coronavirus outbreak has taken a heavy toll on Thailand’s overall events business, as some countries like France have warned citizens against travelling abroad for six months.
See more and source here: