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Pacific World confirms entire business closing down
DMC and events management firm Pacific World has confirmed it is ceasing operations globally.
It follows last month’s announcement it was closing down in Hong Kong.
Its regional offices in Singapore and Barcelona will close next month.
The pandemic is ‘continuing to cause unprecedented disruptions in the travel and tourism industry,’ it said.
This has forced parent company TUI Destination Experiences to pivot to ‘a digitalisation strategy’ and is exiting the meetings and events market.
The company has a wide presence across Asia with offices in China, Thailand, Vietnam and the Philippines.
It had been in business for four decades.
"We believe the industry will recover in the future, and our passion and legacy of innovation will create future solutions for our customers," the company added.
Written by Ray Montgomery, Asia Pacific editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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