The Tax Free World Association (TFWA) has cancelled its 2020 World Exhibition and Conference, which was scheduled for September 27 to October 2, in Cannes, France.
Last month, the TFWA revealed a significant drop in prices for its 2020 show in order to help exhibitors and guests take part, and contribute to the travel retail sector’s recovery. However, considering “the devastating impact of the Covid-19 pandemic” on the duty free and travel retail industry as a whole, TFWA has decided to cancel the 2020 edition of the event.
“By agreeing significant reductions to space rental fees, making changes to the format and working with our partners in Cannes to reduce the cost of taking part in the event, we did what we could to attempt to ensure the TFWA World Exhibition & Conference could take place. The way in which the situation has developed, with the economic impact of the crisis becoming increasingly serious amid continuing uncertainty over restrictions on travel, has forced us to review our plans,” said Alain Maingreaud, TFWA President.
The decision follows the cancellation of the TFWA’s Asia Pacific show, which was due to take place in may in Singapore. The Cannes tradeshow is the biggest event in the duty free and travel retail calendar.
“The cancellation of TFWA World Exhibition & Conference will have a significant impact on the Association’s finances, but thanks to the sound management of our resources up to now, we have been able to build reserves to help us cope with difficult periods such as this. We remain determined to do all we can to help our industry emerge from its most difficult period, keep our members and partners informed and help coordinate our industry’s response to the current crisis,” added Alain Maingreaud.