# Dump the old database as latin1, because ironically, mysqldump defaults to utf8.
mysqldump --default-character-set=latin1 db > db.dump

# If you need to convert a MySQL dump from one character set to another, use iconv.
iconv -f LATIN1 -t UTF-8 < db.dump > db.dump

# If you've been running mysqldump without parameters on a latin1 instance, you can convert the dump from UTF8 to latin1 to correct it.
iconv -f UTF-8 -t LATIN1 < db.dump > db.dump

# Rewrite the dump to say 'utf8' and 'utf8_unicode_ci' in all the right places.
sed -e 's/SET NAMES latin1/SET NAMES utf8/g' -i db.dump
sed -e 's/CHARSET=latin1/CHARSET=utf8 COLLATE=utf8_unicode_ci/g' -i db.dump

# Create a new database with the correct parameters.
create database db character set utf8 collate utf8_unicode_ci;
# Verify it.
show create database db;

# Pipe the converted database dump into MySQL.
mysql -h hostname --default-character-set=utf8 -u root -p db < db.dump