Business & Economy
Belize Tourism Industry Association holds 38th Annual General Meeting
The 38th Annual General Meeting of the Belize Tourism Industry Association was held on Friday, January 12th at the Best Western Plus Biltmore Plaza. Prime Minister Hon. John Briceno gave the Keynote address. Minister of Tourism and Diaspora Relations Hon. Anthony Mahler and BTIA President Stewart Krohn also addressed the gathering.
Business & Economy
Temporary increase in white sugar prices announced for the Belize market
On Tuesday, January 9th, the American Sugar Refinery (ASR)/Belize Sugar Industries (BSI) reported an increase in the price of domestic white sugar. As of Wednesday, January 10th, a 50-pound bag of white sugar will cost $59.26, around $1.18 per pound or $0.43 more than the controlled price of $0.75.
Business & Economy
Belize Bank stops the Central Bank of Belize’s attempt to regulate domestic banking fees
The Belize Bank Limited was granted an injunction to temporarily prevent the Central Bank of Belize (CCB) from implementing the Revised Practice Direction No. 7 – Regulation of Fees and Charges (PD No. 7). This regulation change was supposed to be implemented on January 2, 2024, and would regulate fees imposed by domestic banks on customers. However, with the injunction, PD No. 7 is blocked until court proceedings conclude. The Supreme Court granted the injunction and will have a judicial hearing on February 12, 2024, before Justice Nadine Nabie.
Business & Economy
Belize Sugar Cane Farmers Association signs commercial agreement with the American Sugar Refinery/Belize Sugar Industries
After days of negotiations over the terms of a commercial agreement between the Belize Sugar Cane Farmers Association (BSCFA) and the American Sugar Refinery (ASR)/Belize Sugar Industries (BSI), the two parties finally inked the new contract on Monday evening, January 8th. The negotiations occurred at the Yo Creek Agricultural Station near Orange Walk Town in northern Belize, where Prime Minister Honourable Dr. John Briceño acted as mediator.
Business & Economy
2023 Tourism Statists show impressive Overnight and Cruise Arrivals
Belize's Tourism Industry has made a remarkable rebound following the Covid-19 pandemic. With the number of overnight tourists steadily increasing each month, 2023 is on track to register over five hundred thousand visitors by the end of the year.
Business & Economy
Sugar shortage affecting San Pedro; contraband to countries in the region to blame
A sugar shortage has been reported in the country and is now affecting customers in San Pedro Town. Many islanders working in the restaurant and pastry sector have noted that this shortage negatively affects their businesses. While there has not been an official note from the Government of Belize addressing the cause of the shortage, the problem is reportedly due to the irregular exportation of sugar to the nearby countries in the region.
Business & Economy
Businesses ticketed for price gouging; almost a dozen violators in San Pedro
To control price gouging across the country, the Ministry of Agriculture, Food Security and Enterprise created a Price Control Unit (PCU) and has sent inspectors to different municipalities to address non-compliant establishments. In San Pedro, Ambergris Caye, the 11 stores visited by inspectors were ticketed for price control violations. In Caye Caulker, non-compliance was reported at 75% of businesses visited, and inspectors received minimal cooperation from establishments.
Business & Economy
BTB San Pedro’s satellite office re-opens
After being closed for over three years, the Belize Tourism Board (BTB) office branch in San Pedro Town re-opened on Monday, October 30th, during an official ceremony at the Sunset Boardwalk. The anticipated BTB satellite office on the island is now located at the international water taxi terminal at the Sunset Boardwalk. It will be essential for tour operators, tour guides, and other tourism stakeholders, who will now be assisted with their tourism queries and processes on the island without the need to travel to the mainland.