PROMTUR Panama, destination marketing organization (DMO) reported a return on investment in international promotion and marketing of $69 for every dollar invested.
Panama April 2, 2024. An economic benefit of 1,697 million dollars was generated for the country in 2023, as a result of the international tourism marketing and promotion strategy and actions carried out by PROMTUR Panama. This figure represents a percentage of compliance with the goal of 94%, initially established at 1.8 billion dollars. This goal did not contemplate the delay in the endorsement of contracts by the supervisory body or the social situation experienced at the end of October and November 2023.
“The start of operations of the Panama Cruise Terminal, the international events held at the Panama Convention Center now with its interconnection from the Cinta Costera 3 generate an increase in the average stay of visitors, improving hotel occupancy, as well as that have a positive impact on the economic growth of the country. This growth also contributes to improving the quality of life of Panamanians by generating employment, promoting the development of infrastructure and services, as well as promoting investment in our local communities,” said Denise Guillén, General Administrator of the Panama Tourism Authority. Panama.
For his part, Fernando Fondevila, CEO of PROMTUR Panama, noted that: “PROMTUR’s performance was strengthened throughout 2023 thanks to the enrichment of our strategic plan and the coordinated collaboration with the tourism industry, we achieved important results for the destination with an excellent return on investment estimated at $69 for every dollar invested. Likewise, during the course of 2023, we recorded a sustained recovery in key indicators such as tourist arrivals.”
Fondevila reported that the 9 priority issuing markets generated the highest volume of tourist arrivals by air, reaching 56.9%, compared to 43.1% in other markets. This represents an increase in the participation of priority markets of 4.4 percentage points in 2023 compared to 2019. These figures show that PROMTUR’s strategy under the umbrella of the tourism brand “Panamá Vive por Más” is making a difference.
Regarding the arrival of international tourists, through all ports, in 2023 106% of the values registered in 2019 were reached, achieving a complete pre-pandemic recovery. The data indicates that this recovery is led by leisure tourism, and that the markets with the best performance were the United States, Argentina and Brazil.
Likewise, hotels that report to STR (hotel data analysis platform) also exceeded pre-pandemic levels of the main performance indicators. The average occupancy percentage was 54% in 2023.
Likewise, in 2023 the proportion of international tourists who have visited the interior of the country increased compared to 2022. The provinces with the greatest increase in the proportion of international tourists were: Chiriquí and Colón.
Actions 2024
The Destination Marketing Organization is focused on continuing the strategy launched in 2021, ensuring the consistency of the message at an international level and promoting the actions that have allowed us to achieve the best results. To continue stimulating demand and direct sales of the destination, the strategic alliances with the highest performance are maintained. Alliances are currently underway with: Expedia Group, Air Europa, Copa Airlines, Edreams, HBX Group, Avanti and Lufthansa City Center.
Meanwhile, the direct marketing campaign under the tourist brand platform “Panama, Live for More”, active in the country’s sending markets, is now in a new stage. PROMTUR has activated the entire marketing funnel, to lead to the audiences impacted in the previous stages of knowledge and consideration about Panama as a destination, to the planning of your trip and then to the conversion, which translates into booking your trip to the country. This campaign will be refreshed with new content for the high season.
Regarding promotion in the meetings industry segment, PROMTUR promotes the Incentive Plan, which has allowed it to attract 220 international events to date (from 2021 to 2027). To date, 50 world-class events with an approximate economic impact of $58 million dollars are confirmed for 2024.
through the destination’s heritage routes, organized through three pillars – cultural heritage (multifaceted culture), green heritage (extraordinary biodiversity) and blue heritage (wonders of the ocean) . Learn more about PROMTUR Panama at www.promturpanama.com and follow us as promtur_panama on X (Twitter), Instagram and LinkedIn.
