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A new wave of international conventions and events should provide an important driver for the growth of the Panama City economy in the years ahead.

Fernando Fondevila, general director of the International Promotion Fund (Promtur), recently announced that local groups are applying to attract more than 90 events in the next five years, with a potential impact of $80 million. Twenty-five events have already been confirmed for 2022 and 2023, he told reporters.

“As a country, we are betting on bringing more tourists from this segment of events,” Fondevila said.

One driver for the growth of the meeting, incentives, conferencing, and exhibition business (known as MICE) in Panama City is the new convention center on the Amador Causeway, which will dramatically expand the city’s ability to handle top events. After years of anticipation, the delivery of the convention center has changed the game for the local meetings industry and it represents a huge new untapped asset for local business.

Within the industry, business travelers are seen as far more valuable than a tourist. A visitor attending an event or convention typically spends between two to three times more than a traditional traveler, local officials say. Events also serve as a promotion for the country and help promote Panama Real Estate as an international hub for business.

This season’s convention session officially kicks off in March with ExpoComer, ExpoLogística, and ExpoTurismo. These initial events are expected to generate more than $40 million in a direct benefit for the city.

“With ExpoComer, ExpoLogística, and ExpoTurismo, we are telling the world that we are open and that we can be a regional convention center,” said Jorge Juan de la Guardia, president of the events and exhibitions committee of the Panama Chamber of Commerce, Industries and Agriculture, according to coverage in El Capital Financero.

March will officially be the start of the season of major events this year at the Panama Convention Center in Amador, as Jorge Juan de la Guardia, president of the events and exhibitions committee of the Panama Chamber of Commerce, Industries and Agriculture.

More than 1,500 international convention tourists from 30 countries and a total flow of 15,000 visitors are expected at these fairs.

“It is time to relaunch the country and take advantage of these three fairs together to demonstrate with facts that Panama is a destination for events,” said Annette Cárdenas, a representative of Panama of Skal Internacional, a tourism organization.