The negative impact of the coronavirus epidemic that emerged in China and is spreading to the world is shaking country economies. The virus's damage to the world economy has exceeded one trillion dollars limit. While the world stock markets are experiencing the most substantial losses of recent years, giant fair organizations are making delay or cancel decisions.
The feeling of panic spreading faster than the virus has almost blockaded international fair organizations. The World Bank has prepared a $ 12 billion emergency aid package to combat the virus. The International Monetary Fund (IMF) has also allocated a $ 50 billion loan package for the virus.
So far, nearly 350 international exhibition organizations have been either postponed or canceled due to the virus. 125 fairs in China, 60 in Italy, 25 in Japan, 18 in Germany, 12 in Hong Kong, 16 in South Korea, 20 in Singapore and 19 in Taiwan will not be held on time.
The news regarding cancellation and postponement of the fairs, the display window of trade, adversely affect the industry. In cancellations that caused the domino effect due to the Coronavirus, Italy was the most threatened in Europe following China. Most of the organizations that are canceled or postponed are those in Asia and Europe. Many fairs about technology, food processing machinery, furniture, food, feed, grain, are either postponed or canceled. The Global Grain Asia Conference, which brings together the global actors of the grain markets, is among the events affected by the virus. The conference that is scheduled for March in Singapore was postponed to June. Taipei International Bakery Fair, which is addressing our industry, was planned to be held in Taipei, Taiwan, is rescheduled for June 30-August 2, 2020.