Cuban professor and travel specialist Jose Luis Perello today evaluated the impact of inflation on business tourism and conventions in Latin America.
In his Facebook account, the expert commented that the convention and congress industry rebounded after the Covid-19 pandemic and defeated the myth which said that virtuality would reign after the hard months of confinement, but nowadays, many things have changed.
There is another factor that is being a headache for this sector: inflation, the specialist stressed. In Latin America, the business tourism sector was valued at US$47.6 billion in 2023, according to IMARC Group. The firm also estimated that this market could reach up to US$82.9 billion by 2032, with a compound annual growth rate of 6.2 percent between 2024 and 2032.
However, this sector, which runs through the convention industry, faces high prices for goods and services, and other macroeconomic factors, which constantly change the scenario in which event producers work, seeking to guarantee attendance and be profitable.
