Informa shares rally 27 % after vaccine progress
With news of a ‘ milestone ’ vaccine offering 90 % protection against Covid-19 , event organising giant Informa plc was the third highest riser on the FTSE100 share index , putting on gains of over 30 % at one point before settling at 27 % up at noon in London , 9 November . Large companies in the events sector , hospitality and airlines also put on big gains , with event catering contractor Compass Group the fourth highest riser and InterContinental Hotel Group seventh in the FTSE100 . Charlie McCurdy , CEO , Informa Markets , told CN sister title CMW : “ This is a positive sign , not just for our industry , but for the business communities we bring together and for the cities in which we host our exhibitions around the globe . “ An effective vaccine , alongside close partnership with health authorities , governments and venue partners , will help to restore permissions and confidence as we look forward to the return of controlled in-person gatherings , such as we have seen in mainland China .”
525,000 event jobs at risk while £ 31bn in direct spend could be lost
More than 525,000 jobs are at risk in the UK ’ s £ 84bn events and experiences industry and three out of four companies could fail to survive beyond next February , the Government has been warned . The UK business events sector is operating under tighter restrictions than in any other developed nation and the impact on around 774,000 people employed in the business events industry was laid bare in research presented to ministers . The findings reveal that 77 % of events businesses have paused trading completely at some point since lockdown and that businesses experienced an average 89.5 % year-on-year fall in revenue in August . Four out of 10 firms have between 75 % -100 % of staff on furlough and the end of the scheme is likely to lead to 170,000 immediate job losses , it was found , while 80 % of events firms were ineligible for the grants to retail , hospitality and leisure businesses based on rateable value . Only 27 % were able to access Bounceback loans . Findings by One Industry One Voice also discovered that 44 % of events companies do not believe they have the financial resilience to survive until the end of November , rising to 76 % by the end of February 2021 . Since March , 845 major exhibitions have been cancelled , amounting to £ 8.6bn of lost economic impact . The Events Industry Board says that the UK will lose £ 31bn in visitor spend if business events do not resume before the middle of 2021 .
NewcastleGateshead ’ s new £ 260m venue gets the green light
Gateshead Council ’ s planning committee has approved plans for the development of a £ 260m arena-led regeneration scheme which will see the creation of around 2,000 new jobs in the region , giving a £ 60m annual boost to the local economy . The scheme , which sits on the NewcastleGateshead waterfront at Gateshead Quays , includes a world class arena , purpose built conference and exhibition centre , restaurants , a dual branded hotel and large areas of outdoor realm and performance space . It is anticipated that it will attract more than 338,000 additional visitors to the region each year . Venue management company ASM Global will operate the campus , which includes a 12,500 capacity , 29,000sqm arena and over 7,000sqm of flexible event space . It will host entertainment and sports alongside international conferences , meetings and exhibitions as well as festivals and cultural events .
Liverpool venue steps up to join Covid fight
Exhibition Centre Liverpool has been deployed for mass Covid-19 testing . Bob Prattey , chief executive of the ACC Liverpool Group , which operates the venue , said they are committed to supporting Liverpool City Council throughout the pandemic , adding that it has served as a logistical distribution hub for deliveries of PPE equipment as well as food and household goods . “ We are pleased to be able to provide a large venue to facilitate this vital and ground-breaking mass testing . We will do everything we can to continue to support Liverpool City Region as required ,” he said . www . conference-news . co . uk