That´s why the Instituto Panameño de Turismo Ipat has begun promoting Panama to international companies as destination for business executives. Businesses can use the offer as "a motivational tool to [help employees] achieve set goals," said Ipat event coordinator Kathia Méndez.

Ipat is focusing its efforts on the global economy s big fish --United States, Japan, South Korea and Europe, where travel perks are an established part of the modern corporate program, added Méndez, who said she has also noticed that Latin American executives are taking advantage of the promotion.

International tourism fairs are the best places to promote the country, said Aida Quijano, president of the Bureau de Convenciones de Panamá. So far this year, Panama has presented its travel incentives at trade fairs in Frankfurt, and is planning to attend others in Barcelona and Chicago.

Ipat is already seeing the fruit of its labor, with an increase of 25 percent in the number of executives visiting Panama, said Méndez, as multinational companies such as General Motors, AC Delco and Roche Pharmaceuticals sign up to visit the country.

The incentive tour package often combines business with leisure activities. Golfing, eco-adventures, shopping, and cultural and sporting events are often among the activities requested by these groups, said Méndez.

Big-ticket events like the conclusion of a 2008 PGA golf tournament in the capital last January and Panama s annual International Jazz Festival are also major attractions..
Panama has some way to go, however, if it s going to compete as a premier tourist destination. One of the country s biggest drawbacks is the shortage of five-star hotels. "When more of the [hotel] projects are completed, we will be able to access larger markets and attract larger groups," said Quijano.