Tourism & Leisure
Tourism is one of the largest growing industries in Belize. Over the past decade alone, the industry has expanded and developed fourfold. For the Future, with the re-establishment of the Ministry of Tourism and Civil Aviation, the Government of Belize has continued to pledge “its commitment to entrench tourism as a top national priority” and promote tourism as a main engine for an upturn in the overall economic growth of the country.
The Belizean tourism industry has demonstrated success and commitment to maintain the authenticity of its attractions fostering an attractive platform for investors looking to cater to the growing number of experience-based tourists. Belize’s excellent natural resources and strong cultural heritage allows for eco-tourism, adventure and cultural tourism to flourish as its main tourism motivations. Secondary tourism motivations range from nautical, cruise, sun & beach, and leisure & entertainment.
In 2015, the overnight tourism industry experienced many firsts and record breaking numbers which lead to an overall growth of 6.2% or 19,900 over 2014. 2015 also marked the beginning of Southwest and COPA Airlines’ flights to Belize in October and December respectively, boosting overnight arrivals through the international airport. Since the first flight of Copa Airlines in December, South America visitors have increased 50.3% when compared to 2014. Airport arrivals accounted for majority of the overnight arrivals with around 75.02% of the overall overnight figure. The total increase in Airport Arrivals for 2015 was 7%. All of these factors culminated in a strong increase in visitor traffic in the latter months of the year. (Source: Belize Tourism Board 2015).
According to the National Tourism Master Plan for Belize (2030), enhanced overnight destinations would result in doubling overnight tourism arrivals reaching approximately 556,000 arrivals a year with an average length of stay of 10.6 days and spending USD $213 a day generation approximately 6 million overnight stays in tourism facilities by 2030. (Source: NTSMP 2011)
For 2015, Cruise Tourism remained stable as there was a total of 957,975 Cruise Passenger Arrivals. According to the National Tourism Master Plan for Belize (2030) cruise tourism development is expected to level at an average compound growth rate of 3.8% in the same 20 year horizon to reach over 1.5 million cruise passenger visits per season. (Source: NTSMP 2011)
The most attractive market segments are North American visitors (US & Canada), who accounted for 70.1% of visitors in 2015, followed by Europeans (mainly UK), who made up 12.0% of visitors in 2015 (Source: Belize Tourism Board 2015).
A National Sustainable Tourism Master Plan for Belize 2030 (NSTMP) was completed in 2011. The master plan sets the guidelines for tourism sector development incorporating government reforms that will translate sustainability objectives into actions as well as public and private investments.
Competitive Advantages:
Investment Opportunities
The National Sustainable Tourism Master Plan for Belize 2030 has opened the market for several opportunities of investment. These opportunities include, but are not limited to:
Other areas of Investment Opportunities:
The Belizean tourism industry has demonstrated success and commitment to maintain the authenticity of its attractions fostering an attractive platform for investors looking to cater to the growing number of experience-based tourists. Belize’s excellent natural resources and strong cultural heritage allows for eco-tourism, adventure and cultural tourism to flourish as its main tourism motivations. Secondary tourism motivations range from nautical, cruise, sun & beach, and leisure & entertainment.
In 2015, the overnight tourism industry experienced many firsts and record breaking numbers which lead to an overall growth of 6.2% or 19,900 over 2014. 2015 also marked the beginning of Southwest and COPA Airlines’ flights to Belize in October and December respectively, boosting overnight arrivals through the international airport. Since the first flight of Copa Airlines in December, South America visitors have increased 50.3% when compared to 2014. Airport arrivals accounted for majority of the overnight arrivals with around 75.02% of the overall overnight figure. The total increase in Airport Arrivals for 2015 was 7%. All of these factors culminated in a strong increase in visitor traffic in the latter months of the year. (Source: Belize Tourism Board 2015).
According to the National Tourism Master Plan for Belize (2030), enhanced overnight destinations would result in doubling overnight tourism arrivals reaching approximately 556,000 arrivals a year with an average length of stay of 10.6 days and spending USD $213 a day generation approximately 6 million overnight stays in tourism facilities by 2030. (Source: NTSMP 2011)
For 2015, Cruise Tourism remained stable as there was a total of 957,975 Cruise Passenger Arrivals. According to the National Tourism Master Plan for Belize (2030) cruise tourism development is expected to level at an average compound growth rate of 3.8% in the same 20 year horizon to reach over 1.5 million cruise passenger visits per season. (Source: NTSMP 2011)
The most attractive market segments are North American visitors (US & Canada), who accounted for 70.1% of visitors in 2015, followed by Europeans (mainly UK), who made up 12.0% of visitors in 2015 (Source: Belize Tourism Board 2015).
A National Sustainable Tourism Master Plan for Belize 2030 (NSTMP) was completed in 2011. The master plan sets the guidelines for tourism sector development incorporating government reforms that will translate sustainability objectives into actions as well as public and private investments.
Competitive Advantages:
- Investor friendly climate
- Bilingual (English, Spanish)
- Abundance of pristine natural resources
- Long history of political stability
- Ideal geographic location with access to major international markets
- Well trained and productive labor force
- Competitive wage rates
- 100% ownership of business
- Free repatriation of profits
- Accessible all weather roads linking major towns, cities and ports
- Sub-Tropical climate all year round
- Modern banking and telecommunication systems
- Strong and stable dollar pegged to the US Dollar since Year 1978 (USD 1.00 = BZD 2.00)
- Tourism friendly investment incentive
Investment Opportunities
The National Sustainable Tourism Master Plan for Belize 2030 has opened the market for several opportunities of investment. These opportunities include, but are not limited to:
- Nature-Based – ecotourism and adventure tourism systems of themed natural and man- made nature based concepts structured into integrated recreational ecotourism and adventure sites and centers as well as trail and national caving trail systems.
- Sun and Beach – resort and hotel development within the luxury and pristine themes
- Cruise– facilities for conventional and pocket cruise tourism with commercial centers and amenities
- Leisure and Entertainment – facilities for shopping, restaurants, cafes, bars and attractive facilities and entertainment centers.
- Nautical– structures for a system of marinas, ports and services aimed at attracting tourists journeying in vessels (yachts, sail boats, and charter boats).
- Cultural – development of centers or museums elaborating the history, heritage and living cultures of Belize encapsulating the tourism experience
Other areas of Investment Opportunities:
- Medical-Tourism
- Auto-Rental
- Tourism related activities
Medical Tourism
It has been recognized that there exists a growing trend of health care delivery being offered in host countries and that there is a positive impact when a tourism element is packed with such health services. The growing trend, therefore, is one in which the health – related service sector has become closely associated with the diversification of tourism offerings. Individuals are increasingly seeking medical services in foreign countries due to the mounting cost of health care globally, prevalence and mutation of chronic diseases, quality healthcare satisfactions and high waiting times in home countries.
The development of a Medical Tourism industry in Belize is consistent with both the Long Term National Development Framework for Belize – HORIZON 2030, and the National Sustainable Master Plan for Belize 2030. As such, the development of this industry is a nation – wide opportunity for small and medium enterprises, inclusive of transportation companies, tour operation, hotels and restaurants, among others.
Competitive Advantages:
Investment Opportunities
This vision has opened the market for various opportunities of investment. Some areas that exhibit great potential are as follows:
The development of a Medical Tourism industry in Belize is consistent with both the Long Term National Development Framework for Belize – HORIZON 2030, and the National Sustainable Master Plan for Belize 2030. As such, the development of this industry is a nation – wide opportunity for small and medium enterprises, inclusive of transportation companies, tour operation, hotels and restaurants, among others.
Competitive Advantages:
- Geographic location with close proximity to the US
- English speaking country in comparison to other Latin American countries
- Belize is a renowned natural tourism destination
- The country is home of a large North American and European community of retirees
- Cruise ship passengers and crew as well as a couple of committed medical tourism facilitators have allowed Belize to build some kind of experience in dental tourism.
- Experience in dental tourism
- Sustained political stability
- Many accessible flights
Investment Opportunities
This vision has opened the market for various opportunities of investment. Some areas that exhibit great potential are as follows:
- Academic schools: medical and tourism related training
- Healthcare: hospital and clinics complying with international standards
- Investment Projects: infrastructure, intensive care units, transportation, ambulatory services, laboratories
- Tourism: small boutique hotels, tour operators
- Wellness: noninvasive procedures that includes: spas (facials, massages, beauty treatments), medical spas (invasive procedures), physical fitness, healthy nutrition, relaxation, meditation, mental activity
- Supporting Services: insurance, equipment maintenance, suppliers, bio medical technician, etc.