Business & Economy
Government of Belize grants tax relief to over 800 small businesses
The Government of Belize completed approvals for its 2025–2026 Micro, Small, and Medium Enterprise (MSME) Business Tax Amnesty Program on April 16th. A total of 909 applications were submitted nationwide, with 806 MSMEs approved for a one-year exemption from business tax, along with relief from accumulated penalties and interest on past tax obligations.
Business & Economy
LPG Price Hike Adds to Rising Butane Costs in Belize
Effective April 15, 2026, the Supplies Control Unit (SCU), under the Ministry of Agriculture, Food Security and New Growth Industries, introduced new controlled prices for Liquefied Petroleum Gas (LPG). The adjustment increases prices by BZ$0.17 per gallon and by $4 per 100-pound cylinder nationwide, impacting both wholesale and retail sales, including in San Pedro.
Business & Economy
Former Stake Bank Project Relaunched as ‘Olo Caye’ Cruise Port
The proposed cruise port off Belize City, once known as Stake Bank, has been rebranded as ‘Olo Caye’ following legal battles, receivership, and eventual government acquisition. According to a press release dated April 10th, the project will be transformed into a world-class cruise port with a luxury resort. “Olo Caye is led by Piero Dibattista, whose professional record spans more than 30 years and includes the successful transformation of tourism in Roatán, Honduras,” the release noted.
Business & Economy
Market Day Initiative Promotes San Pedro’s Local Market
San Pedro Town Councilor Dianeli Aranda organized the second Market Day at The Cart Stop in San Pedro Town on Saturday, April 11th, from 11AM to 7PM. The event featured BBQ lunch sales, handmade crafts, unique finds, ice cream, and music, drawing both locals and visitors.
Business & Economy
Water Taxi and Airline Fares Increase Across Belize
Traveling to San Pedro Town on Ambergris Caye has become more expensive once again, this time due to the continued rise in fuel prices. Recent fare adjustments by local airlines and water taxi operators are expected to impact both residents and visitors traveling to the island.
Business & Economy
Queen Conch Season Cut Short by Over Two Months
The Queen Conch (Strombus gigas) season will close more than two months ahead of its scheduled June 30 end date after the production quota for the 2025–2026 fishing season was reached. The quota is set and monitored by the Belize Fisheries Department. Conch lovers can still enjoy the delicacy through the Easter holidays before the closure takes effect, with the season expected to reopen on October 1, 2026.
Business & Economy
Lobster Exports Among Key Drivers of Belize’s Economic Growth in 2025
During a presentation by the Statistical Institute of Belize (SIB) on March 25th, lobster exports were identified as a major contributor to the national economy's growth in 2025. However, in San Pedro Town, Ambergris Caye, fishermen reported a decline in the number of large lobsters throughout the season.
Business & Economy
Caye International Bank President meets German President during official tour
Caye International Bank (CIB) President Dr. Luigi Wewege recently met with German President Frank-Walter Steinmeier during the latter’s official visit to Panama. President Steinmeier’s regional tour, held from March 16th to 20th, included stops in Panama, Guatemala, and Mexico, focusing on strengthening economic ties, trade, and democratic cooperation.
Business & Economy
Belize-Mexico border disruption eased for cargo transportation
The disruption at the Belize-Mexico border, which had limited the flow of goods into the country, was lifted on March 24th after a meeting among Mexican authorities, brokers, customs agents, and transportation stakeholders. The situation had started affecting businesses in San Pedro Town, Ambergris Caye, especially those that depend on imports of vegetables, fruits, and other perishable goods from Mexico.
Business & Economy
Belize Records Marginal Inflation Growth of 0.04% in January 2026
The Statistical Institute of Belize released its Consumer Price Index (CPI) for January 2026 on February 25th. The All-Items CPI rose slightly to 119.86, up from 119.81 in January 2025, reflecting a national inflation rate of 0.04%. The survey measures price levels for consumer goods and services nationwide.
Business & Economy
Government Responds to U.S. Congressman’s Letter on Belize’s Investment Climate
Following a letter from the Chairman of the United States House of Representatives Committee on Foreign Affairs, Brian J. Mast, addressed to Secretary of State Marco Rubio, requesting an assessment of Belize’s investment climate and institutional checks and balances, the Government of Belize formally responded on Thursday, March 12th. In its official note, the government offered its cooperation in assessing Belize’s investment climate.