Snacks
Event-ual

As NYC considers downsizing New Year’s Eve, a year of IRL events hangs in the balance

Snacks / Thursday, December 23, 2021
Waiting for the New Year’s ball drop [Jason Dean via Getty Images]
Waiting for the New Year’s ball drop [Jason Dean via Getty Images]

Hold the party horns… This week NYC officials are debating new restrictions for its famous Times Square celebration as Omicron cases spike. At this writing, NYC’s NYE party will require vaccination but not masks or boosters.

  • NYC’s vax rate is higher than the national average, but its Omicron cases also doubled last week. Mayor Bill de Blasio said new NYE restrictions, like mask mandates, will be announced by Xmas.
  • Big events across the city, from Broadway shows to holiday concerts and NBA games, were also canceled last week because of Omicron.

Bigger than the Big Apple… NYC planners aren’t the only ones considering last-minute changes to curb Omicron’s spread. Event organizers and travelers worldwide have debated whether to cancel plans:

  • IRL work: Two-thirds of companies, including Apple, Ford, and Google, have postponed office returns.
  • Holiday travel was split: Domestic travel appears to be mostly unaffected, while international travelers are canceling plans because of new restrictions in countries like France and the Netherlands, which has entered a full lockdown until mid-January.
  • Large events are also mixed: January’s World Economic Forum in Davos, Switzerland, has been postponed, though next month’s CES event in Vegas is still on.

Next year’s calendar is up in the air… It’s too soon to tell whether 2022 will be the year IRL events make a comeback. The $100B conferences and events industry is closing the year in a wobbly spot, despite significant recovery from its darkest days of lockdown. Markets have risen since Omicron first appeared in the US, but analysts disagree over how much Omicron could affect business next year. Take airlines: Delta expects profits to rise as travel rebounds, but European airline Ryanair lowered forecasts on expectations that Omicron will limit travel.

Get Your News

Subscribe and thrive

Snacks provides fresh takes on the financial news you need to start your day. Chartr provides data visualizations on business, entertainment, and society. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.