Of course, regardless of the extent of the options available, this is not the kind of decision that should ever be made lightly. Here are some of the elements you want to think about as you consider an appropriate locale:
The cost implications of going to the area. For example, if your business is located in Pittsburgh, it may be a lot less expensive to choose a location in Pennsylvania, than Costa Rica, Jamaica, or anywhere else that may be in the vicinity of the Caribbean Sea.
What the pool of potential activities available will look like. While it is true that the value of a corporate retreat comes in the extent to which adequate discussions can be had and decisions made about business affairs, there will be an element of fun involved, which is what allows the team members to feel relaxed. Try to find out what kind of team bonding elements will be present at the location.
The kind of discussions to be had. Depending on where you go, there may be provisions that need to be made to have the appropriate visual aids, for example. You will want to ensure that you don't end up going on a trip only to find out that there are 10 PowerPoint presentations and there is no projector in sight.