Hybrid and Virtual Events are Impacting the Event Industry

While events appear to be returning to our everyday lives, many opt to continue offering a hybrid, or even completely virtual option to participants. This has been a great boom for technology and platform companies providing these options the reverse can be said for the hospitality and venue industry. John Koetsier, a senior contributor to Forbes magazine stated in an article in May 2020 that virtual events were up 1000% since Coronavirus. Ruben Costano, CEO of 6Connex stated over the last few months they have seen the business of virtual events grow by 1000%. That was just in 2020.1 Almost one year later, the investment monitor hosted an article by Courtney Fingar identifying that Covid continues to wreak havoc on the events industry. “The COVID-19 pandemic has decimated the meetings incentives conferences and exhibitions spaces, with on line and hybrid events enjoying mixed success across industries.”2 In her article “101 Event Statistics: The State of the Event Industry in 2022 and