Business & Economy
Little Oversight, Big Projects: Cayo Rosario and Belize’s Development Loopholes
A mega-resort project is taking shape on the leeward side of Ambergris Caye. The waters surrounding the 10-acre Cayo Rosario rival the pristine coral reef environment of the windward side, long a magnet for scuba divers and snorkelers. With translucent waters and small mangrove cayes, the area was once a haven for migratory and resident bird species and remains a critical nesting and feeding habitat. It is also a popular destination for fly-fishing enthusiasts. The island lies about a 45-minute boat ride from San Pedro Town, depending on sea conditions.
Business & Economy
Low Season Leaves Secret Beach with Fewer Crowds
The popular recreational area northwest of San Pedro Town, Secret Beach, is seeing fewer visitors as the tourism low season sets in. During peak months, the beach is usually bustling with activity almost daily. Still, in recent weeks, the crowds have dwindled, forcing local businesses to adapt while continuing to cater to those seeking a quieter experience.
Business & Economy
Belize Investment Summit 2025 Yields Billions in Investment Commitments
First held in November 2021, the Belize Investment Summit was created to attract and promote investment for economic development in Belize. The summit is a high-profile event led by the Office of the Prime Minister and the Ministry of Finance, Investment, and Economic Development. Organised every two years, the 2025 edition, held from September 3 to 5, was themed Bridging Markets, Building Resilience. It concluded as a resounding success, attracting over 600 prominent international investors, business leaders, government officials, and local entrepreneurs. Preliminary estimates indicate investment commitments exceeding BZ$1.5 billion across various sectors.
Business & Economy
San Pedro Businesses Struggle Amid Record Sargassum Influx
This year has brought record levels of Sargassum to the Caribbean, with unprecedented amounts of the brown algae affecting coastlines across the region, including Belize. On Ambergris Caye, the heavy influx has forced some beachfront businesses in San Pedro Town to shorten operating hours, while others have extended seasonal closures until October, when the seaweed is expected to subside.
Business & Economy
San Pedro Records Highest Inflation in Belize in July 2025
San Pedro Town recorded the sharpest rise in consumer prices for July 2025, with an inflation rate of 3.1% compared to July last year. According to the Statistical Institute of Belize (SIB), the island community has experienced a continuous increase in inflation throughout 2025, outpacing the national average of 1.2%.
Business & Economy
Caye International Bank and President Luigi Wewege Honored at 2025 Global Excellence Awards
Caye International Bank (CIB) and its president, Luigi Wewege, have once again been recognized on the international stage, earning top honors at the 2025 Global Excellence Awards presented by Acquisition International magazine. CIB was named Offshore Bank of the Year 2025 for Central America, while Wewege received the title of Offshore Bank President of the Year 2025 for Central America. The awards highlight both the institution’s and its leader’s commitment to excellence, innovation, and client service in the offshore banking sector.
Business & Economy
Belize Investment Summit on Ambergris Caye Attracts Over 500 Guests
The 2025 Belize Investment Summit officially opened on Thursday, September 4th, at Grand Caribe Resort north of San Pedro Town, Ambergris Caye. The biennial summit, the largest of its kind in Belize, brings together investors, entrepreneurs, and business leaders from around the world. This year’s event, held under the theme “Bridging Markets, Building Resilience,” drew more than 500 participants and highlighted Belize’s efforts to strengthen international partnerships and build a more resilient economy.
Business & Economy
BAA Shifts to Open Bidding After 2024 Controversy
The Belize Airports Authority (BAA) announced on August 23rd that it is inviting tenders for two major projects: security services across several airstrips and apron construction works at the Placencia and Dangriga airstrips. This open call represents a shift in the BAA's procurement strategy. In late 2024, the authority had limited bidding to three selected companies and awarded contracts totaling $28 million just days before Christmas. This process drew scrutiny from stakeholders over issues of transparency and competition. The current announcement signals a renewed commitment to open and competitive bidding.
Business & Economy
Belize Temporarily Suspends Goods Shipments to U.S. After Duty-Free Exemption Ends
The United States Government’s recent Executive Order (EO14324), set to take effect on August 29, 2025, is expected to disrupt shipping practices in Belize, particularly affecting vendors in San Pedro. The order, “Suspending Duty-Free De Minimis Treatment for All Countries,” eliminates the $800 duty-free threshold previously applied to low-value shipments entering the U.S. In response, the Belize Postal Service (BPS) announced that as of August 27, it has temporarily suspended all shipments containing goods to the U.S. until further notice. The suspension was issued due to regulatory uncertainty and the need for new compliance procedures.
Business & Economy
Belize Tax Service Faces Pushback Amid Shift to Semi-Autonomous Revenue Authority
The Belize Tax Service Department (BTSD) is undergoing a major transition to become a Semi-Autonomous Revenue Authority (SARA), a change formally approved by the Cabinet in October 2022 and now underway. The reform is part of Belize’s broader tax modernization strategy, which aims to strengthen tax administration, improve service delivery, and support long-term economic development.
Business & Economy
BelRays Introduces Solar Golf Carts in San Pedro
On Saturday, August 16th, BelRays officially introduced its solar electric golf carts with a soft opening event that featured test drives. The launch was held at their office on Coconut Drive, marking a new step toward eco-friendly transportation in San Pedro.
