Business & Economy
Trade License Fee Increases Cause Concern in Belmopan; San Pedro Trade License Fee Unaffected
As of February 10th, businesses in Belmopan have faced sharp increases in trade license fees, with some reportedly rising from $2,500 to $18,000—a 700% increase—prompting concern among business owners and allegedly prompting some closures. The development stems from a citywide review by the Belmopan Trade License Board and has affected multiple establishments, despite a national deferral of the new Trade License Act.
Business & Economy
BTL’s Acquisition of Speednet Paused by Government
During the first sitting of the House of Representatives for the year on Thursday, February 6th, Prime Minister Honourable John Briceño announced that the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL) has been paused. He said that before negotiations continue, the Public Utilities Commission (PUC) must be involved.
Business & Economy
Palm Casino Cleared to Reopen After Court Overturns Shutdown
On February 11th, The Palm Casino in San Pedro received court approval to reopen after a government-ordered closure was ruled unlawful, marking a swift legal victory for the establishment. The closure stemmed from a government enforcement action on January 29th, which the casino owners challenged as procedurally flawed and unjustified.
Business & Economy
Ambergris Caye Represented at International Economic Forum in Panama
The International Economic Forum Latin America and the Caribbean 2026 concluded on January 29 with a record number of participants, including representation from Belize. Held in Panama City, the event brought together seven heads of state and one president-elect, more than 30 official delegations, over 400 bilateral meetings, and 50 panel discussions.
Business & Economy
BTB Opens New Artisan Market in San Pedro with Ribbon-Cutting Ceremony
The Belize Tourism Board (BTB) officially opened the new Artisan Market in San Pedro Town on Thursday, February 5, 2026, with a ribbon-cutting ceremony held at 11AM on Nurse Shark Street. The event featured a short program led by master of ceremonies Rene Guzman, San Pedro Town Council Administrator.
Business & Economy
Inflation Rates in Belize Remain Unstable
Inflation in Belize has continued to fluctuate over recent months, dipping to 0.4% nationally in November 2025 from 0.9% in October. Areas within the country’s productive zones, including San Pedro Town on Ambergris Caye, continue to record higher inflation levels, registering rates above 3% during the first eight months of 2025.
Business & Economy
Liquor License Board Holds Annual Meeting in San Pedro
The San Pedro Town Council’s Liquor License Board held its mandatory annual general meeting on Wednesday, January 27th, at the Lions Den. The meeting brought together liquor license holders and community members to discuss 2026 renewals, compliance requirements, and ongoing challenges.
Business & Economy
CIB President Luigi Wewege Listed Among Top 50 Global FinTech Influencers
President Luigi Wewege of Caye International Bank (CIB) has once again earned international recognition, being named to the Top 50 Global Thought Leaders and Influencers in FinTech for 2026. Thinkers360, a global thought leadership platform and expert network, announced it on January 21st. According to Thinkers360, the list features members who actively curate and share thought leadership content across a wide range of platforms, including articles, blogs, books, keynote addresses, media interviews, panels, podcasts, social media, speaking engagements, videos, webinars, and whitepapers.
Business & Economy
2026 Sugar Crop Officially Opens; Sugar Prices to Increase
On Tuesday, January 20, it was confirmed that sugar prices in Belize will increase. The Minister of State announced the Ministry of Foreign Trade, Dr. Osmond Martinez, during an event in Orange Walk Town marking the official opening of the 2026 sugar crop season.
Business & Economy
Businesses Note Slower Start to 2026 Tourism Season
Tour operators, restaurant owners, and hoteliers in San Pedro are reporting a noticeable slowdown in tourism during the first week of January 2026, following the traditionally busy Christmas and New Year’s holiday period. Local businesses describe quieter streets and lower-than-expected bookings during what is typically considered peak tourism season.
Business & Economy
2026 Sugarcane Crop to Begin After One-Year Agreement Extension
The 2026 sugarcane crop is expected to begin later this month following the signing of an addendum to the commercial agreement between the Belize Sugar Cane Farmers Association (BSCFA) and Belize Sugar Industries Limited (BSI). The agreement was signed on January 7th and extends the existing commercial arrangement for another year.
