Germany fights eventless economy

Wednesday, December 2, 2020

Rise of covid infection affected 2020 Trade fairs organisers hard. Germany suffered the most as the trade fairs play an important role in the German economy.  Every event organiser is waiting for virus threat to end and return to previous conditions. Even the toymakers, the equestrians and the vegans are waiting.

The second wave of infection has further affected the decisions of scheduling trade fairs in Germany in recent months. Competition is growing high and this situation is affecting lives of people.  The mass cancellation of trade fairs has been a disaster for hotels, restaurants and taxi drivers around the world, but especially in Germany. The country has four of the world’s 10 largest trade venues, more than any other nation.

Trade fairs have played a central role in German economic life at least since the Middle Ages, when merchants convened in cities like Leipzig to trade wine, furs, grain and gossip. The first Hanover Fair in 1947, a showcase for machine tools and other industrial goods, was seen as a turning point in Germany’s economic revival after World War II. The fair attracted more than 700,000 potential customers from around the world and helped reconnect Germany to the international economy.

The pandemic forced organizers to scratch this year’s Hanover Fair as well as dozens of smaller events like VeggieWorld in Munich, the International Toy Fair in Nuremberg and Horse & Hunt in Hanover. In a good year, trade fairs generate 28 billion euros, or $33 billion, in revenue for German convention centres, hotels, restaurants, airlines and various service providers, according to the Ifo Institute in Munich, a research organization.

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