Los Cabos is known as a world-class tourist destination but it was all business and diplomacy from June 18-20 when it hosted the first ever G20 Leader’s Summit. When Mexico assumed the presidency of the G20, it took on the responsibility of hosting the 2012 Leaders’ Summit. It was no surprise that President Felipe Calderón chose Los Cabos as the site for this influential meeting of world leaders because of its prominence in Mexican tourism, strong economic contributions, friendly regulatory environment, and overall safety.
Presidents Obama and Calderón are pictured below in Los Cabos.
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Heads of government and finance ministers from the European Union and 19 of the most economically influential countries in the world met in Los Cabos to discuss pressing international financial issues regarding economic stabilization, strengthening the financial system and promoting sustainable development.
Together with the Leaders’ Summit, Los Cabos also hosted the Business-20 Summit (B20). The B20 is an international forum aimed at fostering dialogue between governments and the global business community. The B20’s main objective is to provide heads of state and other government leaders of the G20 with meaningful recommendations from the private sector, which could contribute to the achievement of its objectives of global economic growth and social development. The B20 is integrated by CEOs and chairmen of leading global companies, as well as experts from international organizations and universities, who convene to discuss and generate recommendations that are eventually presented to the government leaders of the G20.
It is no secret that Los Cabos’ success as a tourism destination has been accompanied by international development activity. Over the years, Los Cabos and the Baja area have been a magnet for foreign direct investment mainly from investors based in the United States, Canada and Spain. Whether it is the financing and development of hotels and resorts or the construction of marinas, master planned communities and large infrastructure projects, this area has seen billions of dollars in foreign direct investment over the years from some of the largest and most successful companies in the world.
The same qualities that made Los Cabos the ideal location for the G20 Leaders’ Summit and its members were also some of the reasons behind Snell & Wilmer’s decision to open its first international office in Los Cabos back in 2008.