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Business Events For Post-COVID Economic Recovery

Business Events For Post-COVID Economic Recovery

By Lila Cailles

Why is holding business events important for post-COVID economic recovery?

  1. Exposure among industries
  2. Support for event-dependent industries
  3. Job creation for businesses

 

The news hasn’t been short on relaying information regarding COVID-19 updates in the country. It has become the most important point of discussion whenever there is talk about improving the healthcare system, alleviating poverty, and bolstering economic recovery. One also cannot emphasize enough how COVID-19 has negatively impacted the country’s economy. With the imposition of lockdowns and restrictions from one area to another, many types of transactions and business operations have been halted. The prohibition of mass gatherings has severely affected many industries, including that of the exhibition industry.

The lack of distinction on what constitutes miscellaneous mass gatherings and activities reliant on business and trade has led to the cancellation of business events. No consideration has been directed towards the ability of exhibition and convention centers to adapt to such a drastically changing landscape brought about by COVID-19. In fact, these spaces understand what it means for business events to operate in environments where strict measures have already been put into place.

In a post-COVID-19 world, economic recovery is essential and this can begin through gradual permitting of holding business events. Continue reading to learn more.

 

Exposure Among Industries

We're living in a new normal, but there's no doubt that face-to-face exhibitions are still the fastest way to reconnect…

Posted by World Trade Center Metro Manila on Sunday, 24 May 2020

 

When it comes to pondering about why allowing business events are important to post-COVID-19 economic recovery, one cannot understate how these exhibitions increase exposure among different industries. Convention centers make this possible because they serve as a space that allows different industries to interact with one another.

COVID-19 has severely prevented almost any kind of interaction that does not pertain to “essential” activities. But holding business events should arguably be considered essential in the aftermath of the pandemic.

As mentioned before, the space allows different industries to strengthen connections and relationships with one another. This allows for many possibilities when it comes to innovation, creativity, and collaboration. Recovering after COVID-19 is all about adapting to the “new normal”.

When exposed to a vast pool of businesses of different natures, industries can form collaborations and mergers. This kind of relationship can bring about ingenuity in the creation of products or services that make it easier for people to adapt. For example, companies in the field that provide third-party IT solutions can introduce cloud-based systems that limit physical interaction. They can work alongside accommodation providers in supporting the latter to prepare their spaces post-COVID-19.

Interactions at this level can be made possible only through the use of convention centers. These spaces are adaptable to stringent physical distancing measures while at the same time not hampering the quality of B2B, B2C, or B2E interactions.

 

Support For Event-Dependent Industries

A manager of an event-dependent company

Another reason why business events should be allowed to take place as a key factor in post-COVID-19 economic recovery is that they support event-dependent industries. These industries rely on exhibition shows and trade shows in order for their products and services to be properly introduced to the public. Without these avenues, they would have difficulty garnering support for innovative solutions that they bring to the table. Said industries would also have difficulty in simply keeping themselves afloat during this time.

In particular, the freight forwarding industry is heavily reliant on convention shows in order for them to showcase what they can offer to the economy. For example, these industries are highly responsible for delivering services to the public while the pandemic is still on-going. People have especially turned towards food-delivery services and online shopping as a way for them to adapt to not being able to physically visit commercial and retail spaces. At the heart of these services lies the freight forwarding industry – without which, the shipment of goods would not be made possible.

With exhibition shows, the public can form a better grasp in their mind of how essential freight forwarders and other industries contribute to the growth of the economy.

 

Job Creation For Businesses

A businessman and a newly hired employee shaking hands

It’s difficult for anyone to think about the staggering number of job losses because of the pandemic. Small and medium-sized enterprises, in particular, may have turned towards cost-cutting measures just to keep themselves hanging during this time. One of these measures involves laying off workers and slashing the salaries of employees. Knowing this, economic recovery after the pandemic should also rely on creating jobs for people who have been stripped of their main source of income. Convention centers make this possible through business events, as well as, job fairs that are seeking to increase their pool of employees.

Not everyone has the capacity to gain access to online avenues of employment, which is why these exhibition shows are needed. People who belong in this category would be able to physically reach out to industries who are in need of skills and talents to join the workforce.

 

Key Takeaway

While the government has sought to ease restrictions in some areas of the country, these are still inadequate in addressing the potentially billions of pesos in losses accrued by the economy. There should be a strict delineation to separate business events from the category of mass gatherings since the former is more concerned with increasing the quality of trade.

Holding business events opens up many more opportunities for the country’s economy to recover after COVID-19, but this can be made possible only through major stakeholders who are willing to understand this importance.

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