The Crucial Role of the MICE Industry in Reviving Other Industries

The World Bank sub-regional office in Panama will accelerate the economic reactivation of Central America and the Caribbean, promoting various sectors and creating the perfect framework for the participation of the MICE Industry.

By Jorge J. J. Martínez

One month after the World Bank Vice President for Latin America and the Caribbean, Carlos Felipe Jaramillo, announced the transfer of the sub-regional office for Central America and the Dominican Republic to Panama, the MICE Industry is preparing to fulfill its crucial role as the lynchpin to detonate other industries.

Panama is known as “the Hub of the Americas” for being a strategic center for the world by connecting regions, and the MICE Industry represents this very same thing for multiple economic sectors given its capacity as a business generator.

Such action reiterated the World Bank’s commitment to the region to promote sustainable and inclusive development. Michel Kerf, World Bank Director for Central America and the Dominican Republic, leads this new sub-regional office and will be accompanied by more than 30 specialists in human development, sustainable development, economic policy, and operations management.

The MICE Industry rekindles hope

The new sub-regional office has MICE Industry professionals exited, knowing that it represents progress.

“The sub-regional headquarter will attract an important number of meetings, conferences, and events on a constant basis that will give boost the recovery of the MICE segment. It also allows us to expand the financial meetings niche that we believe can grow even more,” said APCCE Panama President, Kenelma Mendoza.

“This is extremely positive, especially if we consider that the MICE Industry is made up of small and medium-sized companies, many of which are owned by female heads of households. This approach will give a clearer vision of our industry and provide more active support to the region,” said COCAL President, Elizabeth Tovar from the Dominican Republic. The relocation of the staff to Panama will be phased and will be completed in 2022 as a result of the global pandemic.

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