Business & Economy
Belize Bank International Opens Office in San Pedro
As San Pedro Town, Ambergris Caye continues to develop and is recognized as one of the fastest-growing municipalities in the country, the island is expanding services to meet the demands of key sectors within the community. Among these is the financial sector, which saw the opening of Belize Bank International Limited (BBIL) on February 28, offering international banking services to foreign clients on La Isla Bonita.
Business & Economy
Tourism Minister Says Ambergris Caye’s Infrastructure Needs Improvement
San Pedro, Ambergris Caye, is considered Belize’s premier tourist destination, attracting thousands of visitors each year. The island, dubbed ‘La Isla Bonita,’ has even been called the country’s tourism mecca because of its popularity, beauty, and proximity to the second-largest barrier reef in the world. However, Minister of Tourism, Honourable Anthony Mahler, believes Ambergris Caye’s infrastructure requires significant improvements to continue meeting the demands of the tourism industry.
Business & Economy
San Pedro Town Council Publishes Audited 2024 Financial Statements
The San Pedro Town Council (SPTC) has released its audited financial statements for the fiscal year ending March 31, 2024. Prepared in accordance with International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs) and audited by Moore Belize LLP, the report was made public on February 18th. The statements provide an overview of the Council’s revenues, expenditures, assets, and liabilities, offering transparency into municipal operations in San Pedro Town, Ambergris Caye.
Business & Economy
Water Bills Set to Increase Under New PUC Tariff Decision
Belize’s Public Utilities Commission (PUC) issued its final decision on February 17, 2026, approving a 13.5% increase in the Mean Water Rate (MWR) for Belize Water Services Limited (BWSL) for the 2026–2031 tariff period. The new tariffs, set out in the Commission’s Schedule 6 decision, take effect on April 1, 2026, and apply to mainland areas, including Belize City and Belmopan, as well as San Pedro and Caye Caulker. The adjustment is expected to raise average monthly bills by approximately 5.5%.
Business & Economy
CIB President Luigi Wewege Earns Doctorate Focused on Strengthening Financial Stability in Central America
Mr. Luigi Wewege, President of Caye International Bank (CIB) based in San Pedro, Ambergris Caye, has officially been awarded his Doctor of Philosophy (PhD) degree, marking the culmination of a multi-year academic journey focused on strengthening financial stability across Central America. Dr. Wewege completed his doctoral research at the International School of Management in Paris, France, examining one of the region’s most critical and underexplored issues: retail banking crises in Central America.
Business & Economy
Belize Postal Service Adds $1 Fee on All Packages Shipped to the U.S.
The Belize Postal Service will charge an additional $1 on all packages shipped to the United States, following Cabinet approval announced just before Valentine’s Day. This affects shippers nationwide, with the fee applying immediately to cover new compliance costs. Postmaster General Dr. Marsha Price confirmed the change stems from updated U.S. import rules.
Business & Economy
Fuel Prices Drop in Belize, but Cost of Living in San Pedro Remains High
Fuel prices in Belize have decreased over the past few weeks, with prices on the mainland dipping below $11 per gallon. In San Pedro Town, Ambergris Caye, prices for diesel and gasoline, the main types of fuel consumed, have also decreased compared to previous years. The price for diesel per gallon is currently $12.07, while regular gasoline is $11.50.
Business & Economy
Trade License Fee Increases Cause Concern in Belmopan; San Pedro Trade License Fee Unaffected
As of February 10th, businesses in Belmopan have faced sharp increases in trade license fees, with some reportedly rising from $2,500 to $18,000—a 700% increase—prompting concern among business owners and allegedly prompting some closures. The development stems from a citywide review by the Belmopan Trade License Board and has affected multiple establishments, despite a national deferral of the new Trade License Act.
Business & Economy
BTL’s Acquisition of Speednet Paused by Government
During the first sitting of the House of Representatives for the year on Thursday, February 6th, Prime Minister Honourable John Briceño announced that the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL) has been paused. He said that before negotiations continue, the Public Utilities Commission (PUC) must be involved.
Business & Economy
Palm Casino Cleared to Reopen After Court Overturns Shutdown
On February 11th, The Palm Casino in San Pedro received court approval to reopen after a government-ordered closure was ruled unlawful, marking a swift legal victory for the establishment. The closure stemmed from a government enforcement action on January 29th, which the casino owners challenged as procedurally flawed and unjustified.
Business & Economy
Ambergris Caye Represented at International Economic Forum in Panama
The International Economic Forum Latin America and the Caribbean 2026 concluded on January 29 with a record number of participants, including representation from Belize. Held in Panama City, the event brought together seven heads of state and one president-elect, more than 30 official delegations, over 400 bilateral meetings, and 50 panel discussions.
