Why Belize?
Land Area
8,867 sq. miles
Belize’s land area spans 22,966 km²—the only English-speaking country in Central America, offering access to both Caribbean and Latin markets.
Population
441,471 (2022)
Belize’s population is youthful and diverse, offering a multilingual workforce fluent in English, Spanish, and Creole.
Minimum Wage
BZ $5.00 / hour
Belize maintains a standardized national minimum wage, ensuring fair pay across industries.
Exchange Rate
BZ $2 = US $1
The Belize dollar has been pegged to the U.S. dollar at a stable rate since 1978, offering currency confidence for investors.
Labour Force
191,728 (58.7%)
Belize’s active workforce supports diverse sectors including tourism, agriculture, and emerging industries.
Electricity
$0.33 per KWH
Reliable nationwide supply through BEL, with renewable energy forming a growing share of the grid.
Water
BZ $4.37 / 1,000 gal
Belize Water Services provides clean portable water at affordable rates for businesses and households.
Business Tax
1.75%
Belize’s competitive business tax rate encourages entrepreneurship and SME growth.
GDP Growth
10.5% ($1.98B)
Belize’s GDP rebounded strongly post-pandemic, driven by tourism, construction, and exports.
Inflation Rate
7.4%
Inflation has been influenced by global prices, but Belize’s economy remains regionally competitive.
Domestic Exports
$35.2M
Belize exports key commodities such as sugar, citrus, bananas, and seafood to international markets.
Total Imports
$230M
Imports support industrial, retail, and tourism sectors—key areas for investment substitution and growth.
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.
Key Competitive Advantages
Language Skills
English (official) + Spanish
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
US Central overlap
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 & Connectivity
2–4 hr flights
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
BZD 2 : 1 USD
Pegged rate provides pricing certainty for investors.
Investment
Incentives & growth
Fiscal Incentive Programs - Regular Program, MSME Program and One-Off Program and Designated Processing Area
Skilled Labour Force
Abundant & capable
SAn abundant pool of skilled and vibrant workforce. Ease of Employment: Availability of work permit for non–residents. (Subject to eligibility).
Multiple FTAs
Trade & tax agreements
United Kingdom, Sweden, Denmark, Caribbean Community (CARICOM) and Central America.
Stable Environment
Political & business stability
Belize offers one of the most stable political, social, and business environments in Central America, with strong government support for priority industry sectors.
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