With the devastating COVID-19 pandemic threatening to leave the country’s economy in disarray, the event management industry is among the hardest hit.
Multiple global and national events being postponed or canceled due to the impact of COVID- 19, the event management and marketing industry worth Tk 2000 crore, are bearing unprecedented losses in the country.
During an online meeting recently organized by the Event Management and Marketing Association of Bangladesh (EMMAB), owners of various companies in the industry expressed deep concern over the fate of the 2-2.5 lac people involved in it.
It is feared that the outbreak might force the closure of at least 50 percent of the industry’s 300 entities. With no work for the rest of the year, as human interaction will have to be limited, the industry faces dire consequences.
Doza Alan, General Secretary of EMMAB and CEO of Skytracker Limited, recently organized the emergency online meeting with the executive members on behalf of the organization to determine the strategy to overcome this situation.
Doza Alan said, “An instrument like Tax Holidays, Flexibility & Deferral on Loan Installments, Facilitating Bank Loans in very low or zero interest rate, Deferral on VAT Payment, and Reducing AIT to Zero can help the industry to pull through the pandemic situation and survive. As the private sector is high and dry regaining momentum is going to take time. The Government, however, can initiate and create projects to involve Marketing & Event Agencies to keep the ball rolling”.
As this industry involved in bringing people together and communicating messages through human interaction, it has been among the hardest hit by the Corona outbreak. Activation and events will have to be probably redefined with the new world order in the post-Corona world – but right now they are not even sure what that new world order will be.
Sarwar Morshed Azam, Vice President of EMMAB and Managing Director of IMS, said, “To stay healthy and safe in this time of the epidemic, we are all ensuring social distance, staying at home, but we also have to think about the thousands of people who work outside for consumers and brands that have now come to a standstill”.
Rashid khan, Vice President of EMMAB and managing director of Creato, said “As conscious and socially responsible entities this Industry is ready to support any initiative of the government and business community to help the country recover from this enormous global outbreak and the agencies can come forward with their resources and network”.