Latin America Is Ready for Incentive Travel. Is the Industry Ready to See It Clearly?
Latin America has long held many of the qualities incentive travel professionals say they value most: cultural depth, emotional impact, strong value, warm hospitality and the ability to create experiences that feel genuinely different from more familiar reward destinations.
Yet, as a recent SITE Incentive Summit buyer panel in Bogotá made clear, the region still faces one of the incentive industry’s most persistent challenges: not lack of demand, not lack of capability, but perception.
The panel, Sourcing and Operating in LATAM, brought together buyers and industry voices including Tiffany Cohen, CMP, CITP, of Opus Agency, Ashley Krueger, CITP, of Meetings & Incentives Worldwide, Inc., and Agnieszka Majkowska of Prudential Poland. Moderated by SITE CEO Annette Gregg, the conversation explored how incentive buyers are evaluating Latin America, what barriers remain, and what it will take for the region to realise its full potential within global incentive travel.
The starting point was revealing. Survey data from around 800 buyers showed that 95% are considering Latin America for future programmes. Respondents identified cultural richness and strong value as key reasons to choose the region, and those who had already operated there reported highly positive experiences. However, in the room itself, around 80 to 90% of attendees had never previously been to Bogotá.
That gap between interest and firsthand experience became the defining theme of the discussion. Latin America is clearly on the radar. The question is whether the industry has enough direct knowledge, confidence and storytelling power to move it from consideration to conversion.
The most significant barrier remains safety perception. As the panel discussed, outdated assumptions may have softened, but many agencies and corporate buyers still face internal risk teams that assess entire countries through broad ratings, headlines or isolated incidents. This creates an uneven standard, where one event in one city can colour perceptions of an entire nation, while similar or even more visible incidents in familiar destinations provoke far less concern.
For incentive travel, this matters. Risk assessment is essential, but it must be proportionate, contextual and informed. Destinations cannot be reduced to single stories, particularly in a region as large, varied and sophisticated as Latin America. The industry has a role to play in helping clients understand nuance, geography and operational reality.
The corporate buyer perspective added an important layer. Agnieszka Majkowska explained that before a destination is even presented to an agency, she may need to conduct an internal advocacy process involving senior leadership, risk and compliance teams across multiple markets. Approval can require not only a standard exit plan, but
also an emergency exit strategy. Since incentive trips are often announced a year or more in advance, the environment can shift significantly between launch and delivery.
This is not unique to Latin America, but it does illustrate the complexity buyers must manage. Safety, currency fluctuation, contracting requirements and compliance processes can all influence whether a destination makes the final shortlist. In some cases, financial uncertainty alone can remove a destination from consideration.
The response should not be to avoid complexity. Instead, it should be to prepare for it better.
One of the strongest messages from the panel was the importance of local partners. Experienced DMCs and destination experts are not simply logistical suppliers. They are translators of context, culture, expectation and risk. They can help planners understand hidden costs, build realistic timelines, navigate contracting requirements and communicate accurately with internal stakeholders.
This is especially important in a region where legal and financial processes can vary widely from country to country. Buyers were clear that more time should be allowed for contracting and approvals, and that early, transparent communication can prevent issues later in the planning cycle.
However, the panel was also clear that the opportunity far outweighs the challenge.
Many incentive programmes are now moving beyond traditional destination choices and seeking experiences with stronger emotional resonance. Latin America offers precisely that. Colombia, in particular, was highlighted as a destination that often exceeds expectations, combining pride of place, service culture and a growing ability to support high-quality incentive experiences.
The discussion also pointed to the strength of collaboration across the region. Teams in destinations such as Chile and Argentina were described as working closely with clients, not simply delivering a brief but helping shape programmes with flexibility and care. That flexibility is a competitive advantage. It allows incentive experiences to feel more personalised, more curated and more connected to the individual participant.
This matters because the future of incentive travel is not only about where people go. It is about how a destination makes them feel, what stories they bring home and whether the experience reflects the values of the organisation behind it.
Latin America is well placed to deliver on that future. Its cultural richness, hospitality and sense of place offer something increasingly difficult to replicate in more established incentive destinations. Investment in tourism infrastructure and hotel development further signals confidence in the region’s continued growth.
But confidence must be built collectively. Planners need firsthand experience. Buyers need credible information. Suppliers need to tell clearer, more specific stories.
Associations such as SITE can help these conversations, challenge assumptions and create opportunities for education, exposure and shared learning.
As James Gallego of DMC Muisca Travel and Events put it during the discussion: “The people in this room are the first ambassadors for the region.”
That is perhaps the most important takeaway. Latin America does not need the incentive industry to invent its value. The value is already there. What it needs is more people who have experienced it, understood it and can communicate it with confidence.
The destination is ready. The demand is there. The opportunity now is for the incentive travel community to close the gap between perception and reality, and to help Latin America take its rightful place in the next chapter of global incentive travel.
