Chief Executive Officer (CEO) of Charter House, Mrs. Theresa Ayoade has admitted that the events industry in Ghana has recorded a high decline in their revenue due to the COVID-19 pandemic .
According to her, her outfit and many other events companies have recorded some high financial losses.
In a webinar series organized by Global Media Alliance, the Chief Executive Officer of Charter House, Mrs. Theresa Ayoade, speaking on the topic, ‘Impact of COVID-19 on the Events and Hospitality Industries’, stated, “Our revenue has being significantly affected because of COVID-19 and not myself only but with all the companies in the events industry. When events don’t happen, everyone in the value chain suffers.”
She noted that when an industry like the events one is shut down and put under a lockdown with the current restrictions to fight the COVID-19 pandemic in Ghana, then, it is inevitable for the events industry to suffer.
“Even if restrictions are eased up, our industry is not going to bounce back soon.”
Mrs. Ayoade motioned that industry players have had to cancel so many productions of plays, award events and brand experiential activities which are the lifeblood of all event companies.
Summing the losses of the events industry, the Charter House boss disclosed that, “We’ve lost about Ghc2.19million from March to May. And this can go up if restrictions are still in place till the end of the year.”
The President of Ghana placed a ban on all social gatherings including events as part of measures to fight the COVID-19 pandemic.
Regardless of the ban being partially lifted, it requires events to host not more than hundred people, which to the events industry is a small fraction of their patrons
By: Joel Sanco