In order to increase hotel occupancy in Panama, business people believe that the country should focus on attracting clients in the segment of meetings, conferences, exhibitions and congresses, events that could become the lifeline of the sector.

According to reports from the General Comptroller of the Republic, in October 2019, hotels in Panama City reported an average daily occupation of 4,457 rooms, 5% less than the same month in 2018.

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Regarding the bet on the events market, Ernesto Orillac, president of the National Chamber of Tourism of Panama (Camtur), told Elcapitalfinanciero.com that “… you can start with medium sized meetings, with averages of 800 people, and then work on large congresses, with participation of 2,000 to 3,000 attendees, as a fast track to increase occupancy and rates.”

Liriola Pitti, director general of the Panama International Tourism Promotion Fund (Promtur), explained that “… Events and conventions tourists, in the case of Panama, spend an average of $400 while leisure tourists invest close to $230. We have enough infrastructure for this type of tourism.”

It is estimated that globally, the average expenditure of a meeting tourist is $704 per day, with an economic return of 160% for each dollar invested.

Source: elcapitalfinanciero.com