Many people are concerned that Monaco Yachts Show 2020 (MYS 2020) will be canceled because of Covid-19 as well as the main participants SYBAss (Super Yachts Builders Association – Association of super yacht builders) and LYBRA (Large Yacht Broker Association – association of major brokers) have officially announced to Informa (the organizer) their withdrawal from MYS 2020.
The reason given by the above units is concern about the results of this year’s exhibition when every year companies have to spend millions of Euros to participate in the exhibition. And if the above two associations do not participate, MYS will officially cancel.
Actually, this is basically the last straw as the tension over MYS’s fees has long been opposed by many units, however, there is no other exhibition left without participating in MYS. Therefore, in the letter sent to Informa by the two associations, they emphasized that the annual fee is too high. This year, the R.O.I (return on investment) will be a complete loss for them if they still participate, so the decision to withdraw was made by the two associations.
Monaco Yacht Show 2020 still takes place on September 23 – 26, 2020
In response to those moves, in Informa’s recent statement, they announced that this year’s exhibition will still take place non-profit. That means no money from companies (except for fixed costs), this is a wise move by Informa and Monaco in maintaining an event of the magnitude of MYS as well as promoting the recovery of this luxury industry.
Perhaps the MYS organizers saw the consequences that car and watch exhibitions had to suffer and they learned a profound lesson to maintain this 30-year-old exhibition.
