From Record Rise to Record Decline: Impact of Crisis Measures on Prague Meetings Industry is Enormous.
Prague meetings industry is an essential part of the Czech capital city’s and country’s tourism, as well as of their economy. Based on an analysis conducted by KPMG for the Prague Convention Bureau in 2017, the meetings industry accounts for 15% of the overall tourism industry in Prague. At the same time, it is also the sector most affected by the crisis that incurred from the COVID-19 disease outbreak. According to the latest study by the Economic Impact company, revenues in multiplication may drop by more than 20 billion crowns in 2020. This represents a decrease of 74%, when compared with expected sales in case the emergency situation had not occurred.