TFWA World Exhibition & Conference was scheduled to take place from September 27 to October 2 in Cannes.
The organiser initially pressed ahead with plans to host the annual event, and it offered discounted entry fees in order to attract visitors.
However, TFWA has now taken the decision to call the event off.
President Alain Maingreaud said: “By agreeing significant reductions to space rental fees, making changes to the format and working with our partners in Cannes to reduce the cost of taking part in the event, we did what we could to attempt to ensure the TFWA World Exhibition & Conference could take place.
“Since making those changes, we have monitored the situation daily, and been in constant contact with our members and partners. The way in which the situation has developed, with the economic impact of the crisis becoming increasingly serious amid continuing uncertainty over restrictions on travel, has forced us to review our plans.
“The Management Committee was unanimous in its decision to cancel the 2020 edition, and in its desire for the Association’s events to play a central role in the industry’s recovery from 2021.”
He added: “The cancellation of TFWA World Exhibition & Conference will have a significant impact on the Association’s finances, but thanks to the sound management of our resources up to now, we have been able to build reserves to help us cope with difficult periods such as this.
“We remain determined to do all we can to help our industry emerge from its most difficult period, keep our members and partners informed and help coordinate our industry’s response to the current crisis.”
