San Pedro Town, Belize – January 24, 2025 – Belize’s economy is experiencing a significant upswing in 2025, driven by robust tourism and increased foreign investment. The nation’s Gross Domestic Product (GDP) surged by 10.5% in 2024 and is projected to maintain this growth trajectory through 2025. Unemployment has reached a historic low of 2.1%, underscoring the country’s economic vitality.

Tourism: The Cornerstone of Economic Expansion

Tourism remains a pivotal component of Belize’s $6.5 billion economy, contributing approximately 46% to the GDP. For detailed insights, read the full analysis here. In 2024, the country welcomed a record number of visitors, with a 21% increase in overnight stays compared to the previous year. March 2024 was particularly notable, recording 69,202 visitors, including 16,000 arrivals in a single day. The cruise sector also rebounded, experiencing a 47% uptick in ship visits compared to 2023.

Several factors have contributed to this tourism boom. The expansion of direct flights from 28 international airports has enhanced accessibility. The Belize Tourism Board (BTB) has implemented innovative strategies, promoting unique attractions and bolstering marketing efforts. While Caribbean tourism grew by 13% overall, Belize outpaced the region with a remarkable 21% growth in 2024.

Diversification and Emerging Sectors

Beyond tourism, Belize is diversifying its economic activities. Investments in infrastructure and utilities have stimulated the construction and manufacturing sectors, contributing positively to GDP growth. The government is also exploring opportunities in trade finance, logistics, near-shoring, and environmental leadership, aiming for sustainable and resilient economic development.

Foreign Investment on the Rise

Foreign investment has been a significant driver of Belize’s economic growth. Between 2023 and 2025, total foreign investment is projected to increase by $24.1 million USD, an 8.27% rise, bringing the total to an estimated $315.44 million USD.

Strategic Initiatives and Future Outlook

The Belizean government is committed to sustaining this economic momentum through strategic initiatives. Plans include expanding international airport facilities and exploring the potential extension of the Maya Train project into Belize, which would further enhance regional connectivity and economic integration.

The Central Bank projects that Belize’s economy will grow by 7.1% in 2024, an annual growth rate that outpaces the International Monetary Fund’s projections. Inflation is trending downward and is expected to continue this trajectory into 2025, contributing to a stable economic environment.

To explore more about Belize’s economic growth in 2025, visit this detailed report.

About RE/MAX Belize Real Estate

Dustin Bayne Rennie is a Broker and Real Estate expert with RE/MAX Belize. RE/MAX Belize is a premier real estate firm located in Mahogany Bay Village, San Pedro Town, Belize. Specializing in connecting investors with opportunities in Belize’s thriving market, the company offers unparalleled expertise and a comprehensive portfolio of properties.

For more information, please contact:

Dustin Bayne Rennie

RE/MAX Belize Real Estate

Mahogany Bay Village, San Pedro Town, Belize

Phone: +1 (650) 653-2088

Email: [email protected]

Website: https://remaxbelizerealestate.com/

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Company Name: RE/MAX Belize Real Estate
Contact Person: Dustin Bayne Rennie
Email: Send Email
Phone: +1 (650) 653-2088
Address:Mahogany Bay Village
City: San Pedro
Country: Belize
Website: https://remaxbelizerealestate.com/