Due to worsening health situation and travel bans, more than two dozen large trade fairs and industry conferences across Asia have been cancelled or postponed.
Some of these events include the popular Canton Fair, RISE Hong Kong startup/tech conference, East China Import and Export Commodity Fair, and many others.
It is estimated that several billion dollars worth of deals have been put-off as a result of these cancellations.
Local authorities have also informed business associations to hold off hosting events and conferences, worrying that this will worsen the situation.
Big corporations have also withdrawn from large conferences, such as Korea’s LG Electronics withdrawing from the Mobile World Congress event that’s schedule to be held in Barcelona this February 24th – 27th.
It is still uncertain to how long this will last.