The economic impact of coronavirus event cancellations

What coronavirus-related event cancellations cost
What coronavirus-related event cancellations cost

The spread of coronavirus has wreaked havoc on daily life, grinding most of our routines and plans to a halt. Schools and universities around the world have cancelled classes, professional sports leagues have suspended their seasons, Coachella was postponed, and candidates are cancelling their campaign rallies.

Major tech conferences around the world are scrapping their events. This includes South by Southwest in Austin, Texas, Mobile World Conference in Barcelona, Spain, and a host of major developer conferences. As of early March, the economic impact of these tech event cancellations had surpassed $1.1 billion according to PredictHQ, and since that time, the number has only increased as more events and more events are abandoned daily. 

While it's undoubtedly a smart move for public safety, all these cancellations, particularly of major conferences, are taking a huge financial toll.

Here's what it costs to cancel.