Impact of COVID-19 Pandemic on The Event Industry


Constituencies of the lock down for small and large businesses, sports clubs and the people working in event ticketing industry are huge. In the event industry, you only earn money when something is going on. That is why many regional sports clubs and small businesses in the ticketing industry might not survive the pandemic. Also, the recovery for such industries after the restrictions are lifted will not be easy.

The Future of Small Clubs

The future of small sports and related clubs is unclear in the coronavirus pandemic. The financial crisis that small clubs are estimated to face are enormous. Same thing goes for the sponsors, as they will be forced to withdraw due to their own financial problems. Players will face a difficulty in getting paid properly and on time.

Smaller clubs might not be able to bear travel expenses of the players for away matches. That is why lots of experts are concerned that many smaller clubs would not be able to survive the pandemic. So, our main focus should be on saving the talent.

Same goes for the event ticketing industry associated with sports. As the major and minor events keep getting postponed, the event ticketing industry associated with these sports will also suffer.

How High Will The Losses Be?

The total loss due to the pandemic mostly depends on how long the restrictions last for. The situation in chins gives us a clue. The German Sports industry is predicted to suffer from a loss of at least 15 billion euros. There are not set figures for the event ticketingindustry yet. However, the experts suggest a fast comeback and a rapid boom in the next year. But the same thing can not be said for the sports industry.

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