Silent victim of the pandemic: the knowledge economy

At Meeting Escrow, we couldn’t agree more with this article posted in M&C/Asia, April 1, 2021. Many deals, innovations or “ah-ha” moments, happen over a glass of wine, in a boardroom or at the golf course. There are just some things that can’t happen over a screen.

The head of the International Convention Centre (ICC) Sydney has spoken in support of the “silent victim” of the Covid-19 pandemic.

“A significant ramification that hasn’t been widely acknowledged is the long-term impact on the global knowledge economy which is silently suffering,” said ICC Sydney chief executive Geoff Donaghy.

Donaghy's comment comes after looking at the raw numbers that reveal the financial and human impact of the weakening pulse of the meetings and events industry in Australia during the pandemic.

Numbers such as the Business Council of Australia’s (BECA) estimate of a loss of AU$35 billion (US$27 billion) in direct expenditure to the Australian economy and more than 230,000 jobs being affected post-Covid.

Donaghy added that ICC Sydney “will be lucky” if it achieves 10-12% of normal revenue during the year of the pandemic.


Read the full article here in M&C/Asia