Business & Economy
Belize represented at German Unity Day celebration in Panama
Belize’s Minister of Agriculture, Food Security and New Growth Industries, Honorable Rodwell Ferguson, and Dr. Luigi Wewege, President of San Pedro-based Caye International Bank, attended a German Unity Day celebration in Panama on October 22. Both participated at the invitation of His Excellency Joach
Business & Economy
BEL Requests Increase in COPA Cap from 5% to 10%
On Wednesday, October 28, Belize Electricity Limited (BEL) confirmed it submitted a request to the Public Utilities Commission (PUC) to raise the monthly limit under the Cost of Power Adjustment (COPA) mechanism from 5% to 10% of the approved Reference Cost of Power. While the adjustment could raise electricity bills, BEL explained that the proposal does not mean customers’ bills would increase by 10%. The company said the request is necessary because its power purchase expenses continue to exceed the existing 5% cap.
Business & Economy
Press Release: Is Our Island Ready?
Belize sells the world our reef, our cayes, and our incredible nature. But visitors heading north are met with roadside trash, illegal dumping, bulldozed mangroves, and lagoons being filled in. Visitors notice, and residents despair at the lack of concern for our island and our environment. Ambergris Caye isn’t just a tourism destination. It’s our home.
Business & Economy
Downtown airport faces closure as plans call for Secret Beach relocation and real estate redevelopment
A 2025 Inter-American Development Bank (IDB) document outlines a plan for a new airport near Secret Beach, north of San Pedro Town, to replace the John Greif II Municipal Airport in downtown San Pedro. The proposed timetable calls for construction to begin in 2027 and completion in 2029, with an expected closure date for the existing airport set for 2030.
Business & Economy
Fisherfolk Raise Concerns Over Vessel Monitoring Requirement
Fisherfolk with special licenses to harvest stone crab claws and sharks have raised concerns about a Belize Fisheries Department requirement to install Vessel Monitoring System (VMS) devices on their boats. Those who fail to comply risk having their special licenses not renewed.
Business & Economy
High Property Costs Weigh on San Pedro Real Estate Market
The cost of purchasing and maintaining property in San Pedro is becoming a growing concern for prospective buyers, according to local real estate representatives who report weaker interest and slower market activity. Beyond the purchase price, closing expenses, recurring fees, and property upkeep can increase the financial commitment of owning a home or investment property on Ambergris Caye.
Business & Economy
Stone Crab Special License Conditions & VMS Installation Schedule
The Fisheries Department informs all fishers and the public that, in accordance with the Fisheries Resources Act and Statutory Instrument No. 108 of 2022, the Florida Stone Crab (Menippe mercenaria) fishing season is officially open from October 1, 2026, to June 30, 2027.
Business & Economy
August Inflation Reaches 4.4%; Consumer Confidence Slips
The Statistical Institute of Belize (SIB) reported higher consumer prices and a slight decline in consumer confidence in August 2026. The national Consumer Price Index (CPI) increased by 4.4% compared with August 2025, while the Consumer Confidence Index (CCI) slipped from 42.6 in July to 42.4 in August.
Business & Economy
Queen Conch season officially opens in Belize
Belize’s queen conch season officially opened on Thursday, October 1, bringing one of the country’s most popular seafood products back to markets and restaurant menus. For fishers in San Pedro Town, Ambergris Caye, the season adds another income stream to their fishing businesses. It also means restaurants can once again serve favorites such as conch ceviche and conch soup.
Business & Economy
BTIA Calls for Clarity on Proposed Hotel Tax Increase
The Belize Tourism Industry Association (BTIA) opposes a proposed increase in the Hotel Accommodation Tax and asks the government to provide the plan in writing. The association discussed the issue at its annual general meeting, and it remains a concern for tourism stakeholders. BTIA and the Belize Hotel Association (BHA) have requested a meeting with Prime Minister John Briceño, the Ministry of Tourism, Youth, Sports and Diaspora Relations, and the Belize Tourism Board.
Business & Economy
Belize marks 50 years of a two-to-one exchange rate with the U.S. dollar
Belize marked 50 years of its fixed exchange rate with the U.S. dollar at a September 23rd event. The Central Bank of Belize said it adopted the BZ$2 to US$1 rate on May 11, 1976. Officials at the event reflected on the peg’s history and what it will take to maintain it. For Belizeans, the rate provides a familiar basis for calculating the cost of U.S. goods, overseas purchases and travel. The Central Bank describes the peg as an anchor for trade, investment, pricing and financial planning. It says the fixed rate also helps businesses make investment decisions with greater certainty.