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Finland pays €14 million in compensation to events industry

The money was paid out to cover the costs of cancelling or curtailing events such as music festivals and art exhibitions.

File photo of a music event at a Helsinki nightclub. Image: Nelli Kenttä / YleX

Some 470 businesses operating in the events industry received compensation last year from the Finnish state, totalling about 14 million euros in payouts, according to figures released by the state treasury.

The money was paid out to cover the costs of cancelling or curtailing events due to the coronavirus crisis.

The most financial support was provided to organisers of music festivals, concerts, art exhibitions and cultural events, and covered the period from the beginning of June to the end of December.

The coronavirus pandemic has had a devastating effect on the events industry in Finland, leading to Minister of Economic Affairs Mika Lintilä (Cen) stating that the government would reimburse event industry firms for cancellations caused by coronavirus restrictions.

In total, 601 claims for compensation were received by the state treasury.