GSMA, the entity that manages the organization of the Mobile World Congress (MWC) in Barcelona, has announced that it will reimburse the companies that were going to be part of the MWC 2020 event.
MWC 2020 was one of the first international events to be canceled. Entirely due to the consequence of the expansion of the coronavirus. Today, the GSMA has released a proposal for financial compensation to its clients.
In an interview, GSMA CEO, John Hoffman, confirmed the creation of an economic reimbursement package fund. With which, they will these cover different aspects of refund:
- Everyone who purchased the event ticket will receive a refund.
- Companies that paid a maximum of 5,500 euros to have an assigned space at the event will be able to get a refund. They can also give it up to get a credit that they can consume in subsequent events. As compensation said, the credit will be 125% (6,875 euros in the best case). That can distribute 65% for the cost of space reserved at MWC 2021, 35% for 2022, and 25% for that of 2023.
- Those companies that exceeded 5,500 euros investment can also take advantage of this credit plan. Moreover, they can request a 50% refund, with a maximum rebate of 164,600 euros.
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John Hoffman, the CEO of GSMA Ltd, said in the statement. He understands that many small businesses may choose the first solution and prefer to get their money back soon. However, the long-term credit is to maintain the attendance of companies to this event for the next three years.
Companies that withdrew from the event before the GSMA decided to cancel the exhibition will only be able to use the three-year credit. The GSMA’s credit system attempts to reduce the economic impact of the cancellation of MWC 2020. And companies are encouraged to look for future events with a positive vision and to participate in it.