The agencies BBDO, BB & M, and the consortia Team Tourism 16-17 and La Union Zaga submitted similar bids for $4.5 million to design and produce the country's tourism campaign.
From a statement issued by the Tourism Authority of Panama:
At the request of the bidders the Tourism Authority has extended the deadline for submission of bids for the domestic tourism promotion campaign, until 12 February.
If growth in the number of tourists doesn’t reach 25% per year, hotel occupancy will fall from the 74% seen in the first quarter of 2001, to just 50% over the coming years.
Panama is growing and so are the number of hotels, which in 2012 will be offering over 27 thousand rooms.
A study by eMarketer predicts that online ad spending in Latin America will grow between 6% and 9% annually between 2010 and 2014.
According to the study, Latin America was the region which showed more strength against the recession, registering an online advertising growth of 13.3% in 2009 reaching $ 1,700 million.
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