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Economy of Belize and business opportunities

Economy of Belize

Belize has a small, essentially private enterprise economy that is based primarily on agriculture, tourism, and services. The cultivation of newly discovered crude oil in the town of Spanish Lookout has presented new prospects and problems for this developing nation. Besides petroleum, Belize's other primary exports are citrus, sugar, and bananas. Belize's trade deficit has been growing, mostly as a result of low export prices for sugar and bananas.

The new government faces important challenges to economic stability. Rapid action to improve tax collection has been promised, but a lack of progress in reining in spending could bring the exchange rate under pressure. The Belize Dollar is fixed to the U.S. dollar at a rate of 2:1.

Domestic industry is limited, constrained by relatively high-cost labour and energy and a small domestic market. Tourism attracts the most foreign direct investment although significant foreign investment is also found in the energy, telecommunications, and agricultural sectors.

Sectors

Agriculture

Banana production accounted for 16 percent of total Belizean exports in 1999.

Citrus fruits are Belize's second most important agricultural crop.

Energy

A major constraint on a functioning market economy in Belize continues to be the scarcity of infrastructure investments. Although electricity, telephone, and water utilities are all relatively good, Belize has the most expensive electricity in the region. Several capital projects are currently underway. The largest of these is a $15 million rural electrification program to be jointly implemented by the government and Belize Electricity Limited (BEL).

Transport

Ports in Belize City, Dangriga, and Big Creek handle regularly scheduled shipping from the U.S. and the United Kingdom although draft is limited to a maximum of 10 feet in Belize City and 15 feet in southern ports. International air service is provided by American Airlines, Delta Airlines, Continental Airlines, Southwest Airlines, U.S. Airways, and TACA to gateways in Dallas, Texas, Houston, Texas, Charlotte, North Carolina, Miami, Florida, and San Salvador.

Tourism

A combination of factors-climate, the Belize Barrier Reef (longest in the Western Hemisphere), 127 offshore Cayes (islands), excellent fishing, safe waters for boating, scuba diving, and snorkeling, abundant jungle flora and fauna, and numerous Mayan ruins-support the thriving tourism and ecotourism industry. Development costs are high, but the Government of Belize has designated tourism as its second development priority after agriculture.

In 2011, tourist arrivals totaled 888,191 (mostly from the U.S.) and tourist receipts amounted to $260 million. The travel and tourism industry in 2011 directly contributed 350.6 million BZD (176 million USD) to Belize's GDP (12.0% of GDP).

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Belize"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Belize from all over the world..

This section contains economy and business opportunities and from Belize.
Belize Economy Belizian Economy, business opportunities in Belize.
Summary:
Belize - Curriculum Development Specialist
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
29 May 2024
Posting Date:
17 Apr 2024
 
 
 
Summary:
INFORMATION SYSTEMS AND BIG DATA ANALYST
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
17 Apr 2024
 
 
 
Summary:
NDC Partnership In-Country Facilitator for Belize
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
26 Apr 2024
Posting Date:
17 Apr 2024
 
 
 
Summary:
Curriculum Development Specialist
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
30 May 2024
Posting Date:
16 Apr 2024
 
 
 
Summary:
Consultancy Service For The Design And Implementation Of Special Education Teacher Professional Development Program
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
01 May 2024
Posting Date:
12 Apr 2024
 
 
 
Summary:
Consulting Service to prepare Belize’s Global Digital Services Investment Policy with focus on the Orange Economy
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
22 Apr 2024
Posting Date:
06 Apr 2024
 
 
 
Summary:
Development of Student Assessment System
Country:
Belize
 
Notice Type:
Tender Notice
Deadline:
22 Apr 2024
Posting Date:
12 Mar 2024
 
 
 
Summary:
Bz-Belize Covid-19 Response Project -- P177987
Country:
Belize
 
Notice Type:
Procurement Plan
Deadline:
10 Dec 2024
Posting Date:
12 Dec 2023
 
 
 
Summary:
Bz-Belize Covid-19 Response Project -- P177987
Country:
Belize
 
Notice Type:
Procurement Plan
Deadline:
27 Nov 2024
Posting Date:
29 Nov 2023
 
 
 
Summary:
Bz-Belize Covid-19 Response Project -- P177987
Country:
Belize
 
Notice Type:
Procurement Plan
Deadline:
12 Nov 2024
Posting Date:
14 Nov 2023
 
 
 

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