Press release -
Business Climate in Germany’s Event Industry Collapses
The ifo Business Climate Index for the German event industry has crashed, falling to minus 26 points in November, down from minus 2.2 points in October. “The fourth wave of the coronavirus has crushed the industry’s timid optimism of recent months,” says Klaus Wohlrabe, Head of Surveys at ifo. “The events industry is facing another difficult few months,” he adds.
Nearly 50 percent of companies assessed their current business situation as poor and there is widespread dissatisfaction with order books. Price increases have been and are being announced, driven in part by catch-up effects.
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