Artists such as Johnny Logan, Katrina, Lordi, and Verka Serduchka were scheduled to join the tour, which would have started in London and then continued to other countries - ten countries in total.
The European Broadcasting Union (EBU) confirmed the news, with the competition's director Martin Green saying that "unforeseen circumstances" had forced them to make the "difficult decision" to cancel.
All ticket buyers will receive a full refund. The goal is to relaunch the tour when it can guarantee "the world-class experience that fans expect."
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