Just-released research from the Center for Exhibition Industry Research (CEIR) presented during a webinar foresees brighter days ahead, but predicts that the industry will remain in the middle of the proverbial “tunnel” until the second half of the year.
The biggest proof of this can be seen in staff cuts, with the average pay cuts now at 29% — and 37% of respondents saying that current layoffs will likely be permanent. “As COVID persists, the impact is being felt on more staffs, and this is the saddest result of this survey organizationally,” said Nancy Drapeau, CEIR’s VP of Research.
The percentage of event portfolios being canceled altogether has decreased from the last CEIR survey, released in June 2020 — from 72% to 52%. Cancellations are happening across all event sizes, with the highest incidence in the South and West.
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