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Update from our man in Cannes
Economy begins to affect local business
As you would expect, we in Cannes are not exempt from the world economic situation. Whilst Mipcom 2008 and Tax Free held up well (possibly because some companies had booked before the recession began to bite?), December was very calm.
All eyes are on Mipim and the Film Festival and our restaurants and hotels are doing their best to be competitive in adverse exchange rate conditions. Reed have reduced early registration for MipTV but Mipim remains the same.
If demand remains low then the possible closure, even temporarily, of some restaurant outlets and hotels could be a possibility.
We'll keep you posted.