The ongoing Coronavirus crisis has shaken the global economy as major marketing events and conferences have been canceled across APAC, US, and Europe.
Last week has witnessed brutal drawdown in global financial markets, indicating that the world economy could be heading on the path to recession. Though the market sentiment can be misleading, the recession risk is undoubtedly real. The vulnerability of major economies, including the US, has risen as growth has slowed, and the countries are now less prepared to absorb shocks. The ongoing grave situation because of Coronavirus is affecting businesses globally; the best example of this is how major marketing events and seminars have been canceled due to the coronavirus threat.
Some significant marketing events that have been postponed due to the Coronavirus outbreak:
The Facebook F8 developer conference was one of the first casualties of the malignant virus last week. The event plans to welcome an expected 5,000 delegates to the annual convention this May in San Jose.
WFA Global Marketer Week
WFA Global Marketer Week was supposed to be held in Singapore from 31 March to 3 April. But, due to the Coronavirus outbreak, the WFA has decided to postpone the event to April 20 – 23, 2021.
The Drum’s Predictions
The Drum’s first APAC Predictions Breakfast planned on 13 February for the publication to explore disruptions throughout the culture, business, and technology, has been postponed. The next planned date is yet-to-be-announced.
Google Cloud Next
Google had planned the “Google Cloud Next 2020: Digital Connect for its own Cloud Next” event. The event was a digital-first event comprising workshops, streamed speeches, and online ‘ask an expert’ sessions. Now, the new format will be introduced from 6 to 8 April.
Covid-19 has also affected the Adobe Summit, forcing the organizers to conduct the event solely online. The organizers exerted extreme caution to prevent the potential for cross-infection among delegates. The event will mostly take place in Las Vegas between 29 March and 2 April, giving an option to delegates to log-in remotely as well.
WEDP – Singapore Women Entrepreneurs Development Program
The event organized by Procter & Gamble (P&G) in partnership with WEConnect International was scheduled for 14 February. This program got canceled as well for Coronavirus, with no dates for rescheduling.
Overthrow II Festival
PHD Singapore had scheduled the Overthrow II Festival event on 26 February 2020. The event aiming to explore the ten different challenger strategies has been postponed to a later date.
The Splice Beta conference is held in Chiang Mai, focusing on targeting media startups in Asia to transform the media industry with fresher ideas. Originally this conference was supposed to be held in February, but now it has been moved to 22 to 24 September 2020.
This is one of the largest consumer electronics exhibitions held in Singapore, planned to take place at the Suntec Convention Centre on March 12-15. The organizer, Sphere Exhibits, has now delayed the event after considering the health and safety concerns of the partners, exhibitors, and the public.
Art Basel Hong Kong
The Art Basel franchise, famous for fairs in Miami and Switzerland, had scheduled the Art Basel Hong Kong from the 17 to 21 March. But, the show has now been kept on hold. It would have been the 8th edition of Asia’s one of the most prestigious art fairs. And, its cancellation will surely see a severe impact on Asian businesses.
Looking at how the virus is shaking up the business activities globally, the speculation regarding the economic impact of the Coronavirus being at par with the 2008 financial crisis might turn true.