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Belize Tourism and Leisure: Outlook and Investment Opportunities
The exceptional growth trajectory in overnight tourism and cruise passenger arrivals attest to Belize's authentic offerings for visitors seeking diverse experiences, which in turn creates vast investment opportunities. In 2018 there was a 14.6% growth in overnight arrivals from 232,249 overnight visitors in 2009 to 489,261 in 2018, another record-breaking year and one of the largest increases in the last decade. However, this is only one side of the success story; the average length of stay remains at 6 days, and the average daily visitor expenditure is at $148 USD; similarly, cruise passenger arrivals continue to surge with over 1.2 million passengers arriving in Belize, a significant increase of 19.1% since 2017, which represented over 190,000 more cruise passengers in 2018. This unprecedented growth is guided by the National Tourism Master Plan 2013 that seeks to foster the continued increase of visitors to Belize while also focusing on the development of various tourism products, such as, but not limited to, nautical, cruise, sun and beach, and leisure and entertainment.
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Just a Flight Away!
Belize's strategic location in close proximity to North America and Central America has led to numerous accomplishments in airlift enhancement to various major cities. Belize now boasts of airline connections which span to more than sixteen (16) cosmopolitan cities including new airlines and routes to Canada, USA, Mexico and Panama. Altogether, this has also contributed to a majority influx of visitors from North America, with roughly
62% traveling from USA and 11.5% from Canada respectively. Europe is a Belize's second largest market with 12.5%.
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Gateways
Atlanta, GA, USA (ATL)
Calgary, AB, Canada (YYC)
Cancun, Mexico (CUN)
Charlotte, NC, USA (CLT)
Chicago, IL, USA (ORD)
Dallas, TX, USA (DFW)
Denver, CO, USA (DEN)
Flores, Petén, Guatemala (FRS)
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Fort Lauderdale, FL, USA (FLL)
Houston, TX, USA (HOU)
Los Angeles, CA, USA (LAX)
Merida, Mexico (MID)
Mexico City, Mexico (MEX)
Miami, FL, USA (MIA)
Minneapolis/St. Paul, MN, USA (MSP)
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Newark, NJ,USA (EWR)
Panama City, Panama (PTY)
Roatan, Honduras (RTB)
San Pedro Sula, Honduras (SAP)
San Salvador, El Salvador (SAL)
Toronto, CA, Canada (YYZ)
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Success Story: Blu Zen, Caye Caulker, Belize
Blu Zen, a 100% Belizean owned company, was designed to offer quality and elegance; featuring a 50,000-gallon pool, 140 ft pier and seawall, a restaurant and bar, and condo-hotel units.
"The formula for the success of Blu Zen is to offer a great product at a great price, and we believe we have achieved just that. Caye Caulker is a new market for a resort of this size and quality, and we were unsure if we would attract the buyers that San Pedro and Placencia attracted. The reality is that we would not have been able to offer the value and be successful without the Fiscal Incentive."
"I believe the hallmark of the program has been the responsiveness of the BELTRAIDE team. Once we had provided all the items required, the application was processed in reasonable time and promptly submitted to Cabinet for approval. Beyond that is the post-approval service. I must say that I have been extremely pleased with the care and attention, and the promptness with which the application for exemptions have been handled."
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Project Opportunity: Celebrity Long Caye Resort and Residences
P
roject Name: Celebrity Long Caye Resort and Residences
Sector: Tourism & Leisure
Status: Open
Location: Middle Long Caye, Belize
Project Summary
Celebrity Long Caye Resort and Residences is a proposed development to be located on a 30 acre island property on Middle Long Caye, 17 miles South East of Belize City and only 3 miles away from the Belize Barrier Reef. The property is its natural state with access to over 1,000 feet of untouched beachfront. The proposed all-inclusive eco-friendly resort is to feature 20 overwater bungalows, 20 resort rental units, 35 residences, marina development, restaurant and bar among others. Activities for guests on the island can also include zip lining, horseback riding, kayaking, and jet skis.
Total Est. Capital Investment: USD $4,500,000
Total Est. Capital Required: USD $2,000,000
Estimated Return on Investment: TBD
Preferred Sources of Capital: Personal Savings and/or Funds
Preferred Mode of Investment: Joint Venture (preferably a 50/50 partnership) / Sale of Venture (USD $2,500,000)
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