A significant rise in tourism to Belize has helped to fuel the growth of the Central American country’s economy.
Belize’s Economic Growth Accelerating
Last year Belize’s GDP rose by 1.4%, according to the IMF’s Concluding Statement of the 2018 Article IV Mission which was released at the end of September.
“Belize’s economic recovery is strengthening,” the statement reveals.
Economic growth in Belize has accelerated more recently, with growth for the second quarter of this year estimated at 5.4%, according to the IMF.
Tourism Driving Economic Growth
The improved economic outlook for the Central American country is in large part due to growth of the tourism sector.
Tourism arrivals surged by 17.1% between January and June of this year, compared to the same period of 2017, thanks to an increase in demand, media attention and the number of international flights serving the destination.
Visitors have flocked to its unique combination of a beach-fringed Caribbean coastline, rain forest-covered interior and the fascinating remains of the Mayan empire.
Growth Boosting the Belize Real Estate Market
The growth in the tourism sector has also benefited the market for real estate in Belize.
Several new beachfront resorts in the country offering vacation homes for sale are often included in lists of the hottest real estate projects in the Caribbean and Central America region.
To find your perfect property in Belize, search our Belize real estate listings.