Post by Lala's Management

Effect of Covid-19 on the Nigerian Events Industry Analysts have pre #eventsindustry # #eventplanners #eventplanners #eventprofs #eventplanner #postponenotcancel #events dicted that in the first quarter of 2020, the global economy will experience a 2% decline in world GDP due to the coronavirus pandemic (Oxford Economics). Loss of employment, foreclosures, lockdown and so on are some of the ramifications this pandemic has had on the world. The events industry has been particularly hit as people have been forced to postpone or outrightly cancel earlier scheduled events. Unfortunately, this is just the beginning, as it is expected that the world economy would experience a further 0.4% decline in world GDP in the second quarter of 2020 (Oxford Economics). In order words, the world economy is expected to fall into a recession during the first half of 2020. For an Event Planner, the increasing risk of large gatherings accompanied by an increasing decline in revenues and income can be a living nightmare! #eventindustry #nigeria #eventsprof