In a statement issued yesterday, the company explained that the closure was a result of the ongoing “unprecedented disruptions in the travel and tourism industry” caused by the COVID-19 pandemic. As a result, its parent division, TUI Destination Experiences, is “moving to a digitalization strategy and decided to stop participating in the meetings and events market.”
“TUI Destination Experiences will stop operating the meetings, incentives, conferences and events (MICE) business under the Pacific World brand in November 2020. This change impacts Pacific World globally.”
In mid-August, Pacific World sent a letter informing partners that its Hong Kong office would close on September 14, 2020.
Pacific World was founded in 1980 in Hong Kong and purchased by First Choice (later TUI Travel plc) in 2006. It is one of three brands operating under TUI Group’s Destination Experiences Division. In the past decade, it has delivered more than 40,000 event experiences in 100+ destinations in Asia, Europe, the Middle East, Southern Africa and America.
In the statement, the company said that despite having to close Pacific World, it continues to believe the MICE industry will recover along with the global economy.
“Today’s reduced travel budgets and cancelled meetings and events are tomorrow’s pent-up demand and people will continue to meet for business events again. We believe the industry will recover over the next 12 to 18 months, and over time, our passion and legacy of innovation will continue to help us to create better outstanding experiences.”