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As you make your decision, a few areas to focus on:
There will still be a LOT of uncertainty in 2021. How do you decide what option(s) are best for your event?
The decision isn't always up to you - start having hard conversations now to determine where your stakeholders stand. These include:
What do you have to spend to put on the event? Which costs are fixed, and which costs scale based on the number of participants?
Examples of Fixed Costs
Examples of Scaled Costs
Modifications to increase distance and sanitation often include extra costs. Examples include:
What it really boils down to is this: what is the minimum number of participants that you need to make the event financially viable - and can you meet that threshold with the modifications required by your jurisdiction?