The World Summit of Nobel Peace Laureates Boosts Bogotá's Economy

The World Summit of Nobel Peace Laureates

Boosts Bogotá's Economy

  • According to the International Congress and Convention Association (ICCA), business and event tourists spend on average USD $450 per day.
  • The events industry mobilizes at least 15 sectors of the local economy, including hospitality, gastronomy, transportation and logistics.

Fifteen sectors of the tourist and events industry in Bogotá will benefit from the 16th World Summit of Nobel Peace Laureates, organized by the Bogotá Chamber of Commerce (BCC) and the Summit Permanent Secretariat. This is the first international event to visit the capital in 2017.

BCC president Mónica de Greiff stated that with public and private partners, the entity promotes the attraction of events to the city as part of the city's marketing strategy given the investment and employment generated.

"Behind this initiative to attract high impact events, the BCC and the District Government are working in an articulated way, through the Bureau of Conventions and Invest in Bogotá, with whom we permanently develop actions to seek opportunities that allow Bogotá to show its qualities as a host of big events," she added.

The BCC aims to help entrepreneurs take advantage of this moment in the city as a tourist destination, for both leisure and business that earned it a spot as one of Forbes magazine’s 12 cities of the world to visit in 2017.

According to an ICCA (International Congress and Convention Association) report, an event or business tourist spends an average of USD $450 per day during their stay, while a conventional tourist spends USD $139 on average. This allows the event industry in Bogotá, where 473,000 event tourists flock annually, to generate greater economic dynamics for the city.

The main sectors that benefit from the arrival of these visitors are hotel, gastronomy and catering, air and land transportation, retail, travel agencies, entertainment, convention centers, translation, promotional articles, surveillance and security, advertising agencies, media and specialized trade for events, among others.

According to the BCC, the economic impact of the World Summit of Nobel Peace Laureates will involve approximately 1,000 national and international visitors, including public figures, representatives of organizations, business leaders, students, journalists and the public in general.

According to a study by the Bogotá and Cundinamarca Bureau of Conventions, business and event tourism in Bogotá generates revenues for the local economy of USD $253 million per year, a significant figure that supports a city marketing strategy that public and private sectors have been pursuing for years.

Teamwork

The Summit, which will be held for the first time in Latin America and will bring together nearly 30 Laureates, has summoned the participation and support of national and district governments, who have been linked in different ways to making this historic event possible in Bogotá.

In addition, the following partners have supported the event; El Dorado Airport, the United Nations Information Center, Colsubsidio, Cafam, Young Colombia, Compensar, Corferias, Acdi Voca, the Agrarian Bank, the Bank of Bogotá, EMI, the Embassy of Sweden in Colombia, the National Coffee Growers Federation, the Ford Foundation, the Bavaria Foundation, the Ideas for Peace Foundation, Grupo Planeta, GWS and the JW Marriot hotel chain.

The OEI, the European Union, EAN University, Caracol TV, Canal Capital, El Tiempo Pub.ishing House, Vice, W Radio, RTVC, National Radio and Radionics, Red Bull and Televideo have also joined as partners.