Business & Economy
San Pedro Tour Operators meet to discuss issues affecting the island’s tourism industry
The tourism industry is considered the pillar of the economy in San Pedro, Ambergris Caye. As the island continues to expand, so does the need for essential services from the governing authorities. With this in mind, the San Pedro Tour Operators Association (SPTOA) met on Thursday, March 30th, to discuss various issues affecting their businesses.
Business & Economy
Government plans on addressing inflation affecting Belizeans
The continued increase in the price of goods and services is taking a toll across Belize. In areas like San Pedro, Ambergris Caye, where the cost of living is higher, the situation is more alarming. Island residents report that prices for basic food items increase weekly, adding to the struggle to survive. While inflation has become a worldwide issue, the Government of Belize (GOB) has discussed the matter and, on Thursday, March 30th, announced several measures to address the concerning problem.
Business & Economy
Central Bank Governor and President of Caye International Bank meeting
The Central Bank of Belize Governor, Kareem Michael and President of Caye International Bank, Luigi Wewege met on the margins of The Annual Meeting of the Boards of Governors of the Inter-American Development Bank and IDB Invest. This conference was held in Panama City, Republic of Panama, from the 16th to the 19th of March 2023.
Business & Economy
Belize validates strategy to upgrade its soursop industry
Stakeholders from the public and private sectors agree on major areas for upgrading the soursop value chain to increase production, and create opportunities to increase access to local, regional, and extra-regional markets.
Business & Economy
Belize Bank and American Express formalize partnership in Belize
On Wednesday, January 18th, the Belize Bank Limited, and American Express partnership was made official at an event celebrated at the Alaia Hotel south of San Pedro Town. The agreement now allows American Express cardholders to process transactions in Belize following a contract with Belize Bank.
Business & Economy
Alteration of Import Duties on Condensed Milk Imported into CARICOM
The Government of Belize hereby informs the public and the business community that, as of January 1, 2023, the import duty on condensed milk imported into CARICOM from all non-CARICOM sources was increased to 30%. The recent policy change applies to all CARICOM countries that participate in the CARICOM Single Market, including Belize.
Business & Economy
Unified Real Estate Association Gives Members Stronger Voice
The Association of Real Estate Brokers of Belize (AREBB) and the Belize National Association of Real Estate (BNAR) are now one entity: the Belize Real Estate Association (BREA). It is expected that after a successful transition into one formal and democratic entity, both associations will be fully merged within a period of six months.
Business & Economy
Belize Chamber of Commerce and Industry weighs in on Minimum Wage Increase
A release from the Government of Belize explained that the new increase in the minimum wage is a strategy to combat poverty and reduce inequality. Despite the reasons behind this change, the Belize Chamber of Commerce and Industry (BCCI) has objected to such implementation because it will add significantly to the private sector’s wage bill.
