Peru's selection to host the Asia-Pacific Economic Cooperation (APEC) forum in November 2024 for the third time marks a significant milestone in the country's international relations and economic development. This event not only highlights Peru's growing importance as a favorable business and trade environment but also its commitment to sustainable global economic growth. With APEC economies accounting for 67% of Peru's foreign trade in 2023, the forum is a critical platform for Peru to enhance its economic ties and present its potential on a global stage.
The timing of APEC 2024 aligns with Peru's major infrastructure projects, such as the new Multipurpose Port of Chancay and the construction of South America's largest international airport in Lima. These developments are set to transform Peru into a regional commercial hub, improving connectivity with major Asian economies and facilitating trade across the Pacific Rim. The country's diverse economy offers vast opportunities for foreign investment in sectors like renewable energy, agribusiness, and high technology, further emphasizing its potential for growth and innovation.
Peru's cultural diversity and advanced tourism infrastructure position it as an ideal host for large-scale international events. Cities across the country are prepared to welcome delegates and tourists from all 21 APEC economies, offering unique experiences rooted in Peru's rich history, natural beauty, and world-renowned cuisine. The tourism sector, in particular, benefits significantly from the Asia-Pacific region, with over 50% of arrivals to Peru in 2023 coming from this area.
Hosting APEC 2024 is a testament to Peru's leadership in the Asia-Pacific region and its dedication to sustainable and responsible practices. The forum presents an opportunity for Peru to influence regional policies on trade and economic cooperation, while also attracting more foreign investment and fostering international partnerships. The successful execution of APEC 2024 could have profound implications for Peru's economy, including increased trade volumes, a surge in foreign direct investment, and a boost to the tourism sector, further solidifying its status as a key player in the global economy.
