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Nearly half of Polish event companies in bad shape, report

Analysis

The financial status of close to 50% of Polish event management companies has deteriorated during the pandemic with the popularity of online events growing, a recent report shows., according to news agency PAP.

According to ClickMeeting, a Polish webinar platform, 85 Polish event companies suspended their operation between January and April 2021 and 292 did so last year, which is an increase of over 82% compared to 2019.

"Moreover, nearly half of the operating event companies are in a bad financial condition, of which 20% are in a very bad condition," ClickMeeting said in a press release. The statement cites data of the Dun & Bradstreet, Polish business intelligence agency, which shows that just over 4,900 event management companies are active in Poland.

The country's event industry is worth PLN 3 billion (EUR 657 million) and is responsible for 1.5% of Polish GDP. Nearly 34,000 Polish firms organize meetings and events as part of activities supporting their main business. Despite the loosening of pandemic restrictions, the event industry continues to successfully operate online, according to the press release.

The number of online events organized in Poland by ClickMeeting surged by whooping 963% in 2020. Paid webinars gained huge popularity with the record holder earning PLN 57,000 (EUR 12,500). 

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