PNG stands to benefit significantly from hosting the 2018 APEC leaders' summit and associated meetings. Although preparations are complex and costly, businesses will benefit from a wealth of opportunities in the lead up to, during, and after the events.
As noted by Prime Minister Peter O'Neill, by granting PNG the right to host the summit the 20 members of APEC have given the Pacific nation a significant vote of confidence. And the success with which the country hosted the 2015 Pacific Games suggests that this confidence is well-placed.
During the APEC summit in 2018, over 10,000 delegates and support staff are expected from the 20 APEC member countries. During the proceedings, Port Moresby's hotel and tourism sector will experience a significant increase in demand, as will businesses providing handicrafts, transport and dining. It is expected that these benefits will also continue after the meetings are over, thanks to PNG's increased international profile.
Preliminary meetings have already begun. In October 2015,. Port Moresby hosted the APEC Meeting for Ministers Responsible for Forestry. This event was universally hailed as a success, and did much to silence those who have doubted that PNG is ready to host events on a global scale.