The region is becoming increasingly recognized in a segment whose economic profitability accrues with each passing day.

Latin America and the Caribbean are getting more media hype as MICE destinations, even though its market share barely reached double digits in 2008. According to the International Congress and Convention Association (ICCA), Latin America ranks fourth in the region-by-region breakdown, trailing behind Europe, Asia-Middle East and North America, and ahead of Australia and Africa. ICCA said Latin America’s 9.2 percent market share in 2008 has been the highest the region has ever chalked up over the past ten years, while its average turnout of 667 attendants is the world’s second-largest, with North America leading the pack. Late last year, the Americas Travel Market held in Colombia’s Medellin showed that corporate tourism grew dramatically in Latin America and the ongoing economic crisis was shoring up that trend. South America: The Leading Region Owed to a relatively bigger economic development, South American nations are the region’s leaders in this competitive market, labeled by the United Nations World Tourism Organization (UNWTO) as one of the most important niches into 2020 that stands out for drawing in large turnouts of deep-pocket visitors who stay longer in hotels and resorts. In addition, the sector plays an undisputed role in the decentralization of the travel demand. According to the ICCA ranking, seventh-place Brazil ranks among the top 20 countries that host most international events, while only two Latin American cities –Sao Paolo and Buenos Aires– hold the 12th and 16th spots respectively among the top 20 burgs. Since 2006, Brazil cracked the top-10 plateau of MICE events organizers, and that’s owed to its dynamics as one of the main emerging economies worldwide and to its being a major travel destination overall. Based on the ICCA ranking, Brazil shows a steady trend toward the diversification of event-planning cities, climbing from 22 cities in 2003 to a staggering 42 burgs last year. Other Latin American nations that took considerable leaps in the ICCA world ranking, like Argentina, climbed 14 notches all the way up to position 22, while Colombia jumped from number 50 to 38. Cancun Tops the Caribbean List Mexico finished last year at number 24 thanks to 112 international meetings and conventions that underscored its stance as a powerhouse in one of the country’s fastest-growing travel segments. Mexican tourism authorities foresee a 5 percent uptick in the MICE sector this year and according to Tourism Secretary Rodolfo Elizondo, the number of visitors in this category churns out four times more revenue than conventional sunbathers, with an average $3,300 worth of spending per stay. The top Mexican MICE destinations are by far the Federal District and Cancun, in positions 58 and 59, respectively in the world ranking. Each year, the MICE sector brings some 630,000 visitors to Cancun who average $1,250 per stay, a 30 percent increase when stacked up against the rest of the incoming tourists. Next year, Cancun will host the most important MICE event out of the United States –the International Association of Meeting Professionals and Incentives (MPI)– slated to take place for the first time outside the U.S. or Canada. Insular Caribbean and Central America Though Cancun leads the pack among all Caribbean cities, Cuba is the region’s island that holds the highest position in the world ranking, thanks in part to its scientific, medical, educational and diplomatic prestige, coupled with the management of its celebrated Havana International Conference Center, the venue of choice for different summits of heads of State and government. The largest Caribbean island stands tall at number 60 on the list, way ahead of Puerto Rico and the Dominican Republic that hold the 74th and 78th positions, respectively. Just a couple of notches ahead of Cuba stands Costa Rica, at number 58, as the leading nation of Central America, a region where MICE travel has been growing steadily thanks to adequate hotel and meeting infrastructure, like Panama City’s ATLAPA, a convention center large enough to accommodate between 50 and 3,000 attendants. Over the past couple of years, the growth of international meetings in Costa Rica peaked 19 percent, compared to a 14 percent spike in leisure visitors. However, the country lacks a large convention center, though it’s now trying to work this out with plans in the drawing board to build Latin America’s largest fairgrounds. Central America has a competitive edge over the insular Caribbean because countries like Guatemala, Panama and El Salvador do have convention centers for large-scale events. In addition, those nations are spearheading policies aimed at stepping up their promotion as MICE travel destinations. Some of the odds pushing against the possibilities of the insular Caribbean are the lack of adequate airlift and large convention centers. However, the islands count on resorts run by international hotel chains that can accommodate both small-format and large-scale events, let alone offer an assortment of complementary activities like water sports and adventure tourism. Though still largely untapped, the region’s potentials are out there.