Business & Economy
Sugar Industry in Crisis; Agriculture Minister Discusses Potential Sugar Price Increase
The price of sugar may increase as the country’s northern cane fields face a crisis attributed to climate change and a fast-spreading fungus called Fusarium. The infestation has reportedly caused over $50 million in losses, delivering a severe blow to one of Belize’s most important industries. As a result, the Ministry of Agriculture is considering an increase in the domestic price of sugar.
Business & Economy
Belize Launches Sustainable & Inclusive Belize (SAiB) Grants Program for Tourism MSMEs
On July 2nd, at the Angel Nuñez Auditorium, a workshop was held to introduce the launch of the Sustainable & Inclusive Belize (SAiB) Grants Program. SaiB is a government initiative aimed at empowering micro, small, and medium-sized enterprises (MSMEs) in the tourism value chain. The program, executed by the Ministry of Finance, the Ministry of Tourism and Diaspora Relations, and the Belize Tourism Board (BTB), aims to foster income growth, sustainability, and climate resilience across the country’s vibrant tourism landscape.
Business & Economy
Belize Tax Authorities Urge Business Compliance
Businesses operating in San Pedro and across Belize are being reminded of their obligation to comply with the tax regime governed by the Income and Business Tax Act. Authorities stress that full compliance is essential to avoid penalties and to ensure the uninterrupted operation of business activities nationwide.
Business & Economy
KT Enterprises Expands to San Pedro with New Secret Beach Branch
On June 25th and 26th, KT Enterprises, a leading supplier of construction materials, celebrated the grand opening of its new branch in the Secret Beach area of San Pedro with a series of events. The company, initially founded in Spanish Lookout in 2010, specializes in high-quality treated pine lumber, plywood, screws, and other essential building materials, serving the local construction industry.
Business & Economy
SIB Reports Consumer Prices Rise and Exports Fall
The Statistical Institute of Belize (SIB) released its latest economic data near the end of May, painting a challenging picture for the national economy. Belizean consumers are feeling the effects of rising prices, while trade activity has slowed considerably. According to the SIB's April 2025 report, released on May 29th, the national Consumer Price Index (CPI) rose by 1.3% compared to April 2024. This indicates that the cost of everyday goods and services, such as groceries and transportation, continues to increase, putting pressure on household budgets nationwide.
Business & Economy
“Buy Belizean” Campaign launched to promote Local Economic Growth
The Government of Belize, through the Office of the Prime Minister and the Belize Trade and Investment Development Service (BELTRAIDE), recently launched a national initiative aimed at boosting local economic activity and supporting Micro, Small, and Medium Enterprises (MSMEs). The "Buy Belizean" campaign and its innovative Loyalty Program Passport were soft-launched on Friday, May 30th, during the National Agriculture and Trade Show (NATS) in Belmopan.
Business & Economy
National Assembly Concludes Three-Day Debate on 2025–2026 Budget
The National Assembly of Belize concluded its three-day debate on the 2025–2026 national budget on Wednesday, May 28, following sessions at the George Price Center in Belmopan. The discussion centered on the country’s economic progress, fiscal plans, and political differences shaping the government's development strategy for the upcoming fiscal year. The debate began on Monday, May 26, with several members of the House of Representatives addressing national priorities, including economic recovery, infrastructure development, healthcare, education, and public service delivery.
Business & Economy
San Pedro Artisans continue reporting successful Market Days at Central Park; concern remains over relocation of Artisan Market
San Pedro’s Central Park artisan market days have become a vibrant showcase of Belizean creativity and a valuable boost to both local artisans and the island’s tourism economy. The most recent market day, a two-day event held this month on May 22nd and 23rd, once again transformed the park into a bustling hub of activity, where handcrafted jewelry, textiles, wood carvings, and unique souvenirs were displayed, drawing both locals and visitors.
