The hospitality sector has been most affected by the pandemic, both in the UK and overseas. Event companies, venues, hotels, restaurants, travel and similar businesses have suffered great damage. The impact on the events industry was almost instantaneous.
Back in March when restrictions were placed on face-face gatherings in the UK, events stopped and revenues literally evaporated. Event companies, event venues and their supply chains have been devastated and many face further struggles. Unlike some other areas of the hospitality sector which were able to return to some form of trading in July, the events industry was given a restart date of October 1st and even that came with further restrictions amidst fear of a second wave of COVID-19 infections.
As business dries up, the unemployment rate is rising especially in the hospitality sector. The latest official figures show that the
UK
unemployment rate rose to 4.8% in the three months to September,
up from 4.1% in the previous quarter. And the unemployment rate among 16 to 24-year-olds, who make up much of the staff across restaurants, bars and hotels, is now 14.6%, also according to official data.
It all looks bleak and one burning question in the minds of many events professional is, will the events industry bounce back? Despite the gloom, I have been encouraged by the strength and resilience of the events industry over the past years. Having worked in events industry through the global financial crisis, the SARS outbreak and 9/11, I have great positivity from my first-hand experience of how the industry recovered from these events and I have strong confidence that we will bounce back. Admittedly, what is happening right now as a result of COVID-19 seems to be more serious, the prospect of ground-breaking vaccines on the horizon, infection rates decreasing and industry-specific measures are beginning to help build confidence in the industry.
Moving forward isn’t going to be easy and there are many challenges to overcome. But that real sense of purpose and pride in what we do, the creative integrity and drive for excellence that we have, will help us bounce. Of course, it’s not going to be flipping the switch on 1st of January 2021 and everything goes back to normal. Events are going to look different in the interim with a lot of adjustments and continued changes to operating models until the world beats this virus.
Event planners and venue providers who are creative are taking the lead to show how resilient our industry is by offering solutions to restore industry confidence. Virtual, Physical and Hybrid events are taking place. In England, as we begin to emerge from lockdown to a tier system,
new Government guidance
from 2nd of December allows for certain types of larger face-face events to take place. This is good news, and even better news is the
approval of a vaccine in the UK
and the prospect of its rollout starting this year.
The events industry is worth £70 billion annually to the UK comprising conferences, exhibitions, weddings, arts and culture, festivals and shows, music and sporting events. Events and hospitality professionals alike all want to see this great industry bounce back stronger than before.
