Cancellation of Art Basel in Hong Kong: repercussions for Switzerland?
The Art Basel Hong Kong art fair, scheduled for March 19–21, 2020, was canceled due to the coronavirus. What are the implications of this for Art Basel in June 2020 and for the MCH Group?
The glamorous dock in Hong Kong.
Due to the coronavirus, which the World Health Organization (WHO) classifies as a health emergency of international concern, the MCH Group has been forced to cancel the upcoming staging of Art Basel in Hong Kong.
Various factors as a result of the spread of the coronavirus have led to this decision by the organizers of Art Basel. According to the MCH Group, these include concerns about the health and safety of those working at the exhibition and of visitors, the major logistical challenges involved in transporting the artworks to Hong Kong and setting up the exhibition, and the increasing difficulties in international travel.
The world's leading trade fair Art Basel.
Brand damage for Art and for Basel
Art Basel Hong Kong was intelligent global brand management of MCH Group, the exhibition in Hong Kong established greater awareness and reach for the brand name of Art Basel. Normally, satellite exhibitions also lead to more exhibitor and visitor customers from the same country in the home business.
This process - more sales abroad, more brand renomée for the art fair in and around the city of Basel - is now interrupted. And it could also harm the world's leading art fair in Basel. The beautiful appearance of the big brand is scratched, voices rumor that because of Corona also the Art in Basel from June 18 - 21, 2020 is in danger. In fact, it is to be expected that a large number of Asian visitors will stay away from the fair in Basel in the summer.
In 2003, when the Sars virus was rampant, the first attempt was made to hold parts of the Baselworld watch and jewelry fair in Zurich in parallel. But because of the virus, the exhibition halls remained empty, killing the pilot project for all time. According to the MCH Group, the financial damage of the cancellation of Art Basel in Hong Kong is great. But the shining Art Basel brand could also suffer.
What will happen in 2021?
What's next for Art Basel in Hong Kong? The MCH Group asserts that it will be held in Hong Kong again in 2021. But that does not seem so certain. Exhibitors who have once decided against an exhibition, as the decline in the formerly large Baselworld shows, are difficult to persuade to return; the psychological hurdle is great.
This is not the case with Art Basel Hong Kong. Due to the cancellation by the organizer, the MCH Group, there is a slightly more favorable situation, a psychological advantage. But it causes further damage to Basel's image, in addition to the decline of the exhibition industry in Switzerland and the home-made problems in Basel. The cancellation will not do the MCH Group's share price any good.
