ECT Alliance says COVID-19 cost Regina $395M in economic impact

The COVID-19 pandemic has cost Regina nearly $400 million in economic impact because of the cancellation of events, conventions and tradeshows.

In a media release Tuesday, the ECT Alliance said the cancellation of 298 events, conventions and tradeshows cost the city $395.3 million in economic impact. That includes $41 million hotels lost in revenues.

The release said the unemployment rate in the city in April was 8.6 per cent, up from 7.2 per cent in March. In April, retail, restaurants, hotels, attractions and culture lost an additional 5,600 jobs, or 186 per day.

The pandemic also caused a decrease of between 33 and 58 per cent in consumer spending, primarily in the hotel, restaurant and retail sectors.

“Event, Convention and Tradeshow activities benefit real people, creating opportunities for hundreds of Regina businesses and employing thousands of people, many of whom are new to the labour force,” Economic Development Regina CEO John Lee said in the release.

“Despite the pandemic, Regina has a positive story to tell when it comes to ECT and we’ll continue to share it long after COVID-19 is in the rear-view mirror.”

Among the events in Regina that were cancelled due to COVID-19 was the 2020 Grey Cup, which was to be held at Mosaic Stadium on the grounds of Evraz Place. The Queen City Ex and Canada’s Farm Show also were cancelled because of the pandemic.

“As I’ve said before, we are in the business of creating memories through the events we host,” Tim Reid, the president and CEO of Regina Exhibition Association Limited, said in the release.

“As a result of COVID-19 we effectively saw our industry turn off overnight. When we are given the go ahead, we’ll be ready to welcome back all of our friends who have been patiently waiting to take in the magic of the events that come through our beautiful city.”

The release noted the sector has tried to be innovative during the pandemic, including staging drive-in concerts with Brett Kissel and offering takeout and pickup delivery options through local restaurants.