Direct investment would be US$400 million and will boost employment, predicts the Lima Chamber of Commerce.

The investment and consumption generated by the Lima 2027 Pan American and Parapan American Games will contribute one percentage point to Peru's GDP between 2024 and 2027, said the Lima Chamber of Commerce (CCL).

“The direct effect on the economy is estimated to be one percentage point of GDP until 2027, because there would be a prior drag from the second half of 2024 and the years 2025 and 2026, due to the maintenance and construction of important infrastructure,” he said. the institutional director of the CCL, Carlos Posada, to the Andina Agency.

“All of this generates a lot of local labor, greater taxation and formalization because the works are executed formally, and once again an opportunity opens up to create collaborative spaces through public-private associations,” he added.

Carlos Posada maintained that the impact of the 2027 Pan American Games comes from several sectors: infrastructure, construction, tourism and gastronomy, as well as the improvement of social aspects that Peru has on its agenda such as citizen security, connectivity and others.

“The expectations for 2027 are very interesting because we should already enter a clear economic recovery and this is an additional push that should impact the GDP,” he said.

“In addition, we should exceed the 20,000 international visitors who arrived in 2019, who spent US$ 1,300 per person, excluding transportation. “We are waiting for not only the athletes to arrive but also their families, as well as the media and sponsors,” he added.

INVESTMENT

The CCL executive indicated that there is an approximate investment of almost US$ 400 million that would be allocated directly to the Pan American Games, and that it would be added to the budgets that the Metropolitan Municipality of Lima would have to improve the infrastructure of the capital city.

“The infrastructure has to start developing now because it is a guaranteed investment after the appointment of Lima as the venue for the 2027 Pan American and Parapan American Games, which will attract indirect investment,” he said.

“Indirect investment would occur in hotels, restaurants, transportation and tourism agencies,” he said.

Carlos Posada considered that abroad they appreciate Peru as a country with great potential to continue growing, which is why we must believe more in ourselves and, of course, focus on solving existing problems.

“It is pleasant news that we Peruvians receive, for the second time in a few years we have been chosen again as the venue for the 2027 Pan American Games, which is the second most relevant multi-sports event worldwide, after the Olympic Games, and this puts to Peru again in the showcase,” he highlighted.

Yesterday, Lima became the venue for the 2027 Pan American Games and Parapan American Games, surpassing Asunción in the election held at the Extraordinary General Assembly of Panam Sports, held in the city of Miami. It will be the second time that Peru will host a maximum competition after organizing it in 2019.