Business & Economy
New Fishing Seasons Begin for Queen Conch and Stone Crab, Mixed Opinions on Conch Stock
The Queen Conch (Strombus gigas) and Florida Stone Crab (Menippe mercenaria) seasons officially opened in Belize on Wednesday, October 1st. Both seasons run until June 30, 2026, unless production quotas are met earlier, in which case they will be closed. While Stone Crab fishing is not common in San Pedro, Ambergris Caye, conch remains a popular choice. Some fishers reported a bountiful opening day, while others said stocks continue to decline each year.
Business & Economy
Belize Records Moderate 3.5% GDP Growth for 2024
On Wednesday, September 24th, the Statistical Institute of Belize (SIB) presented its review of the country’s Gross Domestic Product (GDP) for 2024, reporting a modest growth of 3.5%. The end-of-year data highlighted strong performance in the agricultural sector. SIB’s Manager for the Economic Statistics Department, Jacqueline Sabal, noted that the primary sector grew by 2.8%.
Business & Economy
San Pedro Workshop Launches Kotina to Boost Small Tourism Businesses Online
On September 25th and 26th, the San Pedro Town Council hosted an introductory workshop designed to empower Belizean tourism businesses through the launch of Kotina, an innovative platform for website creation and management. Held at the House of Culture, the event, offered under the Human Development portfolio, focused on equipping women, entrepreneurs, and small to medium enterprises (SMEs) with the digital tools needed to thrive in the upcoming busy season.
Business & Economy
Opening of the Stone Crab Fishing Season
The Fisheries Department takes this opportunity to inform all fishers and the public that in accordance with the Fisheries Resources Act and Statutory Instrument No.108 of 2022, the Florida Stone Crab (Menippe mercenaria) fishing season opens from October 1st, 2025, to June 30th, 2026.
Business & Economy
Belize Enacts New Insolvency and Bankruptcy Act to Modernize Financial System
The Financial Services Commission (FSC) has announced the enactment of the Insolvency and Bankruptcy Act, 2025, a significant reform aimed at modernizing Belize’s financial framework. Effective September 17, the new law replaces the Bankruptcy Act of 1902 and introduces a comprehensive system that addresses insolvency and bankruptcy for individuals, businesses, and financial entities. It emphasizes fairness, transparency, and mechanisms to support economic recovery.
Business & Economy
MSMEs Gain Relief Under Belize’s New Tax Amnesty
The Office of the Prime Minister (OPM) officially launched the Fiscal Incentive MSME Business Tax Amnesty Program on September 19th in Belmopan. The initiative, supported by the Ministry of Investment’s Investment Policy and Compliance Unit (IPCU), the Belize Tax Service (BTS), BELTRAIDE, and the Economic Development Council (EDC), is designed to help micro, small, and medium enterprises (MSMEs) formalize their operations with the BTS.
Business & Economy
CIB’s President Luigi Wewege discusses why Europeans are showing interest in Belize
In a recent article published in the Times of Malta, Belize is described as a small English-speaking nation on the Caribbean coast of Central America, popular not only for tourism but also for migration and offshore banking. Luigi Wewege, President of Caye International Bank (CIB), based in San Pedro Town, Ambergris Caye, outlined why Europeans are increasingly drawn to the country for its climate, security, and financial opportunities.
Business & Economy
Belize to Implement CARICOM Free Movement with Three Countries
As of October 1st, Belize, Barbados, Dominica, and St. Vincent and the Grenadines are expected to begin implementing the free movement of their citizens...
Business & Economy
New Minimum Wage Proposal Divides Opinion Across Belize
On Tuesday, September 16th, Prime Minister Honourable John Briceño delivered his State of the Nation address at the University of Belize campus in Belmopan City. He spoke about the country’s progress and challenges in the economy, jobs, and national security. One announcement that drew considerable attention was another planned increase in the minimum wage from $5 to $6 per hour. While employees would take more money home, some stakeholders and critics argue the move could negatively affect the local economy.
Business & Economy
Tropic Air Officially Launches Three New Cessna Grand Caravan EX Aircraft
Tropic Air marked a significant milestone on September 17 with the official launch of three new Cessna Grand Caravan EX airplanes at Philip S.W. Goldson International Airport (PGIA). The additions strengthen the airline’s commitment to improving service quality and advancing Belize’s aviation industry.
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.
