COVID-19 has changed a lot of things around us and worldwide, of course, businesses have been affected as well. COVID-19 has impacted the B2B exhibitions industry in the USA.
According to The Center for Exhibition Industry Research (CEIR): “The persistence of COVID-19 and the uncertainty of whether events can take place in their scheduled destinations are forcing an increasing number of U.S. B2B exhibition organizers to either postpone their events to late 2020/early 2021 or cancel them entirely,” noted CEIR CEO Cathy Breden, CMP, CAE, CEM. “This trend is devasting to an industry that contributed over $101 billion to the U.S. GDP last year.
According to COVID-19’s Impact on the B2B industry in the USA insights, 74% of those forced to cancel say the lack of clarity in knowing whether large group meetings will be allowed to take place at the scheduled time due to state and local lockdown orders prompted them to this decision.
Moreover, many organizers (69%) attribute the persistence of corporate ‘no travel’ policies and the impact they might have on participation levels as a reason for foregoing a 2020 in-person event.
The chart below shows that cancellations continue to grow and postponements hold steady:
There are many reasons why exhibitions are forced to cancel due to the current circumstances because of COVID-19.
The following chart shows the reasons why exhibitions are canceled due to COVID-19’s impact on the B2B industry in the USA.
Make sure to check the full insights about COVID-19’s impact on the B2B industry in the USA.