Business & Economy

San Pedro Town, Ambergris Caye, has been without a Belize Tourism Board (BTB) office for over three years after it closed in June 2020 due to the COVID-19 pandemic. This office is essential for tour operators, tour guides, and other industry partners, and as a result, the closure has led to trips to the mainland for tourism queries. But those days are about to be a thing of the past, as on Thursday, October 5th, during a meeting with Tourism Minister Honourable Anthony Mahler, San Pedro stakeholders were informed that the BTB office would soon be re-opened.

During the height of the COVID-19 pandemic in 2020, Belize’s economy plummeted after the tourism industry came to a grinding halt. Fast-forward to 2023, the tourism industry has returned, but some believe it doesn’t compare to 2019. On Thursday, September 28th, the Ministry of Tourism shared an update on the state of the industry, citing that the overnight arrivals continue to show improvement and the upcoming high season is expected to be very successful.

On Saturday, September 2nd, the construction plans of a five-star Four Seasons resort on Caye Chapel were revealed during a groundbreaking ceremony on the private island. The international luxury hotel and resort company plans to construct a 104-room hotel, 50 private residences, a 10-hole White Shark Golf Course designed by retired professional golfer Greg Norman, and over-the-water accommodations that include hotel guests’ rooms, shared facilities, and a detached swimming area offshore. Other amenities will include an upgraded marina, health and wellness facility, a private beach clubhouse, restaurants, cafes, and a 3,400-foot runway for Cessna planes. Caye Chapel Four Seasons is set to open in 2025.

Prime Minister Honourable Dr. John Briceño officially opened the second edition of the Belize Investment Summit on Thursday, August 31st, at the Grand Caribe Resort north of San Pedro Town. The summit, held under the theme 'Belize: Endless Opportunities!' is organized to attract local and foreign investment to the country. One of the main topics highlighted at the summit's opening is the importance of exploring other aspects to build the economy, one of these being the Orange Economy, explained by special guest and keynote speaker former Colombian President Ivan Duque Marquez.

On Wednesday, August 30th, the San Pedro Town Council (SPTC), BELTRAIDE, and the United Nations Development Programme (UNDP) gathered at the public library to officially unveil a project to assist island entrepreneurs with digital tools to improve their online presence. The new Digital Connect Center located on the second floor of the public library building is equipped with computers, and it will soon be opened to those needing this resource to enhance their business strategies and better promote their products and services.

The second edition of the Belize Investment Summit will officially open with an inaugural ceremony on Thursday, August 31st, at the Grand Caribe Resort north of San Pedro Town. The event, held every two years, aims to showcase the investment opportunities in Belize and inspire current stakeholders to expand. The summit welcomed potential investors and stakeholders with motivational speakers from Belize and abroad. Attending the event this time as the keynote speaker is former President of Colombia, Ivan Duque Marquez. He is considered very vocal about the importance of the Orange Economy, which Marquez will promote at the summit.

The FSC has achieved a significant milestone by securing membership in the CGSR, a direct outcome of the Council of the Securities Regulators of America (COSRA) meeting that was initiated in 2002. COSRA, representing the securities regulators of Barbados, the Bahamas, the Eastern Caribbean, Jamaica, and the Republic of Trinidad and Tobago, birthed the CGSR as a dynamic platform for regional collaboration to discuss and resolve regulatory issues amongst Member States.

The second Belize Investment Summit is happening in San Pedro Town, Ambergris Caye, from August 30th through September 1st at the Grand Caribe Resort....