The cancellation of the champagne-soaked Mipim property event in France because of coronavirus, could see the Department for International Trade left thousands of pounds out of pocket.
Freedom of Information requests submitted by the Evening Standard show DIT was due to send 19 representatives to Mipim in Cannes. The event is known for deal-making, conferences, networking opportunities and yacht parties.
But owing to Covid-19, Mipim, set to take place in March, was postponed to June before being scrapped until 2021.
The department had spent £25,376 on exhibitor tickets, return flights and accommodation.
While it is understood Mipim tickets will be held over to next year, there could be difficulties in recovering other costs.
The DIT Freedom of Information response said: “Under supplier policy arrangements there is limited opportunity to claim refunds.” It added: “There could be a potential loss of up to £17,942 for return flights and accommodation as a result of Mipim March 2020 being rescheduled.”
The questions were submitted before Mipim’s organiser said the event would be moved to next year.
Scores of conferences have been cancelled across various industries due to the virus outbreak.
