(Reuters) - Informa (L:INF), the world's largest exhibitions group, said on Tuesday that 128 events with an estimated revenue of 425 million pounds have been delayed or cancelled due to the coronavirus outbreak.
The rapid global spread of the coronavirus has rattled financial markets, caused supply disruptions and kept people indoors, which has led to the cancellation of many events.
Informa markets, the business that brings half of the group's revenue, produces more than 450 international events annually in over 40 countries such as China Beauty Expo, Monaco Yacht Show, World of Concrete and Arab Health.
"As the impact of COVID-19 became clear, through our postponement programme we began re-scheduling brands, with around 45 large events now agreed or in the process of agreeing a move to later in 2020," the company said, while postponing another 70 smaller events and cancelling 13.
The company said the 45 large events have budgeted revenue of 350 million pounds, the 70 smaller events have a 50 million pounds exposure, while the 13 cancelled ones have 25 million pounds in revenue exposure.
"In 2020, all three events businesses will see an impact from COVID-19," the company said.