Belize - Market OpportunitiesBelize - Market Opportunities
Belize’s location offers some advantages to U.S. businesses, including proximity to the United States, links with Central America and the Caribbean, strong cultural influences from North America, English as the official language, and easy air transportation and short distance shipping routes to the United States.
The Belize Trade and Investment Development Service (BELTRAIDE) is responsible for promoting investment in Belize’s priority sectors. It also maintains statistics and information on establishing new businesses in Belize and manages the Government of Belize’s investment concessions and incentives programs. Priority sectors for investment include agriculture, agro-processing, aquaculture, logistics and light manufacturing, food processing and packaging (particularly non-plastic and biodegradable), tourism and tourism-related industries, business process outsourcing (BPOs), and renewable energy. BELTRAIDE also has a Belize Investment Portfolio to better match and fast track investment priorities through public-private partnerships or investor-to-investor opportunities. For further information, visit http://www.belizeinvest.org.bz.
Tourism remains atop the list of industries of economic importance for Belize as its proximity to the United States, English speaking population, and tropical climate continue to attract tourists in droves. Entrepreneurs consistently seek ways to improve tourism product delivery, tourist safety, and the uniqueness of Belize’s tourism product. This reality allows for further investment opportunities in tourism infrastructure and support services, including cruise terminals, hotels, auto rentals, Wi-Fi access, and food supply.
A large percentage of Belize’s population speaks English, Spanish, or a combination of both, thus creating an emerging market for offshore outsourcing. The country’s available arable land is well suited for investments in agriculture and agri-business, though investors should be aware of applicable government land use policies (given the fragility of Belize’s environment and dependency on eco-tourism). The country currently produces primary products including beans, rice, citrus, sugar, bananas, corn, and cacao. Value-added agri-business investments are a much needed avenue for agricultural and aquaculture development. The country lacks affordable food packaging and preservation options. Opportunities exist in sustainable energy particularly in biomass, hydro, solar, and waste-to-energy technologies.
The Government continues to expend significant resources in road infrastructure development, particularly in those areas that support the tourism and agriculture sectors. Many public works projects are financed through grant or borrowing from the regional and multilateral development banks and donors.
Belize Trade Development and Promotion