Why Belize?
Land area: 8,867 sq. miles
Population: 441,471 (July 2022)
Minimum wage: BZ $5.00/ hour
Exchange rate: BZ $2.00 = 1:00 USD (pegged)
Labour force: 191,728 labour force participation rate: 58.7%
Average cost of electricity: $0.33 per KWH
Average cost of water: 0-1000 US gallons- BZ $4.37/ 9000 us Gallons $9.88
Business Tax: 1.75%
GDP per Capita: $1983.62 (million) GDP growth rate 10.5%
Inflation Rate: 7.4%
Domestic exports: $ 35.2 (million)
Total Imports: $230 (million)
Bordered by Mexico to the north, Guatemala to the west, and the Caribbean Sea to the east, Belize is a unique and vibrant Central American country with strong Caribbean ties stemming from its British colonial history. Its hardworking, diverse, friendly, bilingual (English is the official language), and well-educated workforce supports a growing economy. Belize is a popular tourist destination, renowned for its pristine natural resources, year-round tropical climate, and extensive coastlines. These natural assets create an attractive and sustainable environment for developing niche products and services that add value derived from nature.
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Key Competitive Advantages
Language Skills:
Belize boasts multilingual capabilities, English being the official language followed by Spanish, making it unique in Central America and the Caribbean. The country is also home to a diverse range of native languages, such as Kriol, Garifuna, Mayan, German, and Chinese.
Time Zone Advantage:
Proximity & International Connectivity: Belize is a 2- to 4-hour flight from major US cities, with direct flights from Dallas, Houston, Charlotte, Atlanta, Miami, New Jersey, Los Angeles, and New York.
Proximity & International Connectivity:
Proximity & International Connectivity: Within 2 to 4 hours of flying time from key US cities with direct flights from Dallas, Houston, Charlotte, Atlanta, Miami, New Jersey, Los Angeles, and New York.
Stable Currency:
Belize Dollar (BZD) fixed at 2:1 against the US Dollar (USD)
Competitive Investment Incentive Programs:
Fiscal Incentive Programs – Regular Program, MSME Program and One-Off Program and Designated Processing Area.
Skilled Labour Force:
An abundant pool of skilled and vibrant workforce. Ease of Employment: Availability of work permit for non–residents. (Subject to eligibility)
Multiple FTA’s Double Taxation Avoidance Agreements, Trade Agreements:
United Kingdom, Sweden, Denmark, Caribbean Community (CARICOM) and Central America.
Stable Environment:
Belize offers one of the most stable political, social, and business environments in Central America, with strong government support for priority industry sectors.