The recent celebration of the 2024 Carnival in Panama City has become a resounding economic success, according to the Panama Tourism Authority (ATP), with an initial investment of US$1.6 million, the event has generated an impressive economic return that exceeds US$18 million.
The economic impact is not limited only to financial numbers, but has also resulted in a significant boom in commercial activity in the historic Old Town. According to data provided by the ATP, sales in this area have tripled, especially in night establishments, thus consolidating carnival as an engine for the local economy.
One of the pillars of this success has been the implementation of a digital device (PDA) that provided detailed information about the demographics of the attendees, allowing an effective adaptation of promotion strategies.
The ATP reported that the event managed to attract a diverse audience, with a prominent 10% of cruise hikers participating in the activities of the Old Town. Activations were carried out both at Tocumen Airport and in hotels in the city, thus facilitating the arrival and experience of visitors.
During the days of the carnival, Panama City experienced a notable migratory movement, with a total of 98,850 people transiting the city. Of the total, more than 72,000 arrived through Tocumen International Airport, approximately 19,000 by cruise ships and more than 7,000 by land.
According to the ATP, more than 135 shops in the Old Town joined the activations, offering special promotions to visitors and thus contributing to the vibrant festive atmosphere. In total, more than 140,000 people gathered at the Panama Carnivals, with visitors from various parts of the world, such as the United States, Colombia, Venezuela, France, England, Germany and Hong Kong.
The shopping centers also joined the celebration with promotions in the so-called “discount carnival”, with the participation of about 1,280 shops and increasing visitor traffic in a range of 5 to 10%.
The economic success and the wide participation both nationally and internationally confirm the Carnivals of Panama as one of the most outstanding events of the country’s cultural and tourist calendar.