Pacific World, a DMC and events management company has recently announced that it is stopping all global operations. This announcement has come after its decision last month to close down offices in Hong Kong.
The parent company will shift to a digitalisation strategy
According to reports, its regional offices in Barcelona and Singapore will close in October. The report further said that the pandemic has caused unprecedented disruptions in the travel and tourism industry.
This has also forced TUI Destination Experiences, the parent company to shift to a digitalisation strategy. This also means that it will exit the events and meetings market. With offices across Asia in Thailand, China, the Philippines, and Vietnam, the company had been in business for four decades.
Commenting on this decision, the company said, “We believe the industry will recover in the future, and our passion and legacy of innovation will create future solutions for our customers.”