Over the weekend I reviewed in depth McKinsey & Company’s global consumer survey in the midst of COVID-19. The results regarding economic recovery varied greatly. Then I thought about my home city, luxurious Cannes and the potential unprecedented cancellation of the 73rd annual Cannes Film Festival.
Before analyzing the economic impact on the film industry, detailed below is a list I drafted of businesses and individuals (a.k.a. festival ecosystem) that would suffer a staggering financial hit:
- Transportation to and from the festival – airlines, taxis, limo services, Uber, etc.
- Lodging – premium hotels, luxurious villa rentals equipped with staff and swimming pools, Airbnb and budget hotels.
- Furloughed hotel staff (e.g., front desk guest assistants, bellman, room service, etc.) and housekeeping, as well as all the supporting sustainable housekeeping businesses – cleaning equipment/materials like laundry detergents, toiletries, etc.
- Restaurants and bars in Cannes plus surrounding areas; La Napoule, Mougins and Juan les Pins.
- Local transportation to and from events – taxis, Uber, limousines, luxury car rentals, mopeds, bicycle rentals, etc.
- Maintenance staff, carpenters and electricians at Palais des Festivals et des Congrès where the films are screened.
- Tourism related jobs – hostesses at Office of Tourism, tour guides, etc.
- Yacht rentals.
- The event companies responsible for setting up film billboards and banners along the Boulevard Croisette.
- Beach businesses – chair rentals, towels, etc.
- Independent beach vendors selling sunglasses, hats, visors, candied nuts, etc.
- Sun tan lotion.
- Hairdressers, makeup artists and all the businesses that supply them with products.
- Luxury retail shops.
- City of Cannes and film festival souvenirs/mementos.
- Landscaping/gardening services that prune the palm trees and plant flower beds along the Boulevard Croisette.
- Illegal substances, sex workers.
- Service gratuities!
I hope I witness first-hand the 73rd annual Cannes Film Festival.