Peru to Host APEC 2024: A Strategic Move for Economic Growth and Global Partnerships

Peru is gearing up to host the Asia-Pacific Economic Cooperation (APEC) forum in November 2024, marking the third time the country has been chosen for this prestigious event. This opportunity not only underscores Peru's growing stature as a favorable business and trade environment but also its pivotal role in fostering 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 significant infrastructure advancements, including the development of the Multipurpose Port of Chancay and the construction of South America's largest international airport in Lima. These projects are set to transform Peru into a regional commercial hub, improving connectivity with major Asian economies and beyond. The country's diverse economy presents lucrative opportunities for foreign investment across various sectors such as renewable energy, agribusiness, and high technology, further propelled by a burgeoning innovation and entrepreneurship scene.

Peru's cultural richness and advanced tourism infrastructure position it as an ideal host for APEC 2024, with cities like Lima and Cusco ready to welcome delegates from all 21 APEC economies. The country's appeal as a safe and culturally vibrant destination is evident, with over 50% of its 2023 tourists coming from the Asia-Pacific region. APEC 2024 is not just a testament to Peru's international relations prowess but also a chance to showcase its commitment to sustainable and responsible economic practices.

The forum is expected to significantly impact Peru's economy, potentially increasing trade volumes, attracting more foreign direct investment, and boosting the tourism sector. Moreover, it offers Peru a platform to influence regional policies on trade and sustainability, reinforcing its status as a key player in the Asia-Pacific region. As Peru prepares for APEC 2024, the event stands as a milestone in its journey towards greater economic integration and global partnership, promising long-term benefits for the country and the wider region.