Morocco’s Event Industry Faces 75% Revenue Drop Amid COVID-19 Crisis

According to 93.5% of event professionals, the sector is going through the worst situation it has ever known. Some service providers have been forced to sell their real estate and movable property to cope with the perverse effects of this crisis.

The same study specifies that some professionals had to resort to bank loans and government support (63% of the people contacted) deemed insufficient and irregular. More than 30% of event professionals have taken out the Damane Oxygène loan against 20% for the Damane Relance. In addition, most of these professionals have preferred "domestic" recourse to replenish their cash flow (family and friends’ assistance, in addition to the sale of real estate and movable property) to credits and public aid.

Entitled "Impact of the pandemic on the event industry sector", this study brings together entities and people involved in the event sector (companies and freelancers). It was carried out between January 21 and 28, 2021 with 206 professionals in the sector (87.7% of whom are managers, CEOs or owners of the entities represented). It aims to assess the situation, identify the impact of the crisis on event operators compared to other economic sectors. It also aims to take stock of its repercussions in terms of turnover, employability, cash flow and short-term prospects.