The outbreak of the novel Coronavirus pandemic is affecting globally due to which people all over are getting panic with the increasing cases of this. Everything is shutting down due to the fear of Coronavirus; people are even afraid of getting out of their homes. They are taking the necessary precautions to travel and are restricting themselves from attending functions as much as possible. There are a lot of issues coming out due to this and it is becoming one of the biggest threats to the global economy.
The government has ordered to stop attending places with the large gathering of people due to the rising fear of being infected. Many businesses are getting affected and in that one of the industries that are facing a huge economic crisis is the Event Planning Industries because large events and a huge gathering of people might contribute to the increasing amount of COVID-19 getting spread. Many of the events were listed down for the month but due to the increasing spread of COVID-19, the industry has been destroyed financially by a huge number of cancellations, every event like a wedding, brand launches, corporate events, trade shows, bar mitzvahs and more are being canceled for the month of March, which means there will be no income at all for the whole month. People working in the event industry are affected due to the cancelations and the most suffering ones are those who are freelancers and contractors who book gigs with event planning companies. An event doesn’t mean a single person being affected; if an event gets canceled many people in the event team are being affected because their only way of income stops.