COVID’S IMPACT on the economy has been dramatic, but for some industries in particular, it is catastrophic, comparable in depth and scale to the Great Depression. The near collapse of the travel and leisure industry has already had a dire effect on the wine market. Not only have restaurant sales dipped disastrously, but the purchasing power of collectors and investors has also suffered. Many of the lucrative landmark events in the wine trade calendar have been postponed or cancelled. Perhaps most significantly, Bordeaux’s annual en primeur tasting week, an event that sets the benchmark for the year’s sales, was effectively wiped out. But many of the world’s major wine competitions and fairs, such as the Decanter World Wine Awards in London, ProWein in Düsseldorf and Vinitaly in Verona, have also disappeared.
The tippling point
From the Vineyard
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