Germany wins EU clearance for €642m support scheme for tradefair and congress sector

Paul Colston | CMW

Germany has received clearance from the European Commission to roll out its proposed Federal umbrella scheme for damage compensation of tradefairs and congresses in the country. The scheme is reportedly worth €642m and was first put to the Commission on 4 December last year. While some of Germany’s Lander (States) were able to partially lift restrictions for a certain period prior to the second wave of the Covid-19 outbreak, restrictive measures on tradefairs and congresses became generally tighter again since November 2020. German tradefair industry association AUMA, which has lobbied hard for government support for the sector, has estimated 80% of international and national tradefairs planned for 2020 were cancelled or postponed. Many congresses and tradefairs planned for the first half of 2021 are also not likely to take place, Germany had told the Commission in its submission. The Commission said the objective of the new approved measure is “to compensate companies that own and/or operate and rent out tradefair and/or congress infrastructure and deliver related services for their losses of profit due to measures taken by the Länder to mitigate the effects of the Covid-19 outbreak. The losses deprived the companies temporarily of liquidity resulting in difficulties to cover...

Vote this post up | Rank:14 | << back | go to this post >>

Recent posts from CMW