A survey conducted by the newly formed Irish Events Federation (IEF) has revealed that the country’s conference and exhibitions industry has lost over 20 per cent of its estimated revenue due foot-and-mouth disease.
Mr Greg Manahan, the IEF’s acting Chairperson, said they were looking for the Government to include the industry in its ‘Ireland is open for business’ promotional activities.
"Those businesses who took part in the survey indicated that their combined revenue estimate for the year 2001 would be just over £105 million. Due to the decline in their because of foot-and-mouth disease, IEF members estimate that their revenues will decline by over £21 million, which is equivalent to 20.1 per cent.
"When one bears in mind that the average rate of profit in the industry is in the region of 10 per cent to 15 per cent, this is a significant blow," said Mr Manahan.
The group’s survey also found that 16 per cent of full-time and 66 per cent of part-time staff have been laid-off in the industry. An additional 9 per cent of staff have been placed on short-time hours.
"While our trading situation has begun to improve over the last couple of weeks, given the nature of the industry’s annual business cycle, it will be autumn before this staffing situation begins to improve," said Mr Manahan.
While the IEF are looking for Government support, they are not seeking any handouts, according to Mr Manahan.
"The large drop in our revenues is creating pressure on our cash flow. In this context, we would like the Minister for Finance and his Department to assist us by arranging for deferred payments of VAT, PAYE and PRSI, without penalties and interest being imposed," he said.
