Caribbean Tourism & Investment Performance June 2024

Caribbean Investment 2024

 

The Caribbean is recognized as a very tourism-dependent region, with tourism serving as the largest economic contributor for many Caribbean nations (including Belize).

In 2024, vacation rental income and investment properties in the Caribbean are continuing to outpace last year’s very strong performance, according to new data from hotel analytics firm STR.

 

The Caribbean region’s hotel occupancy in June was 68.1%t, a +3.4% increase compared to the same period in 2023. This has resulted in 2024 has been a record-breaking year for most of the Caribbean. Also, a record breaking year for Belize tourism. Belize Tourism & Investment in 2024 is performing very well, as Belize has been ranked as the “Fastest Growing Destination in the Caribbean“.

Average daily rental rates in the Caribbean increased by +3.3%, while revenue per available room surged by +6.8% in 2024 with the increased tourism and occupancy.

 

Belize Tourism & Investment Data First Half of 2024

 

In 2024, Caribbean hotel occupancy is up +3.9% compared to the first half of 2023. The rental rates per night (ADR) are also up +8.3%, while gross revenue is up even more at +12.5%.

 

 

STR data surveyed 2,121 hotels comprising roughly 284,000 vacation rentals across the Caribbean region.

 

 

Belize Tourism & Investment Performance

Belize Tourism & Investment Data First Half of 2024

Belize has seen a 30% increase in international tourists in the first half of 2024 from 2023.

The 30% growth rate in Belize is impressive when compared to other Caribbean destinations like Puerto Rico, the Dominican Republic, Aruba, Cancun, The Bahamas, the Cayman Islands, and more.

 

 

 

Belize 2024 Tourism Growth

 

2024 has seen record-breaking inbound tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize (internationally).

Total Overnight Tourists to Belize in 2024 is  +30% higher than in 2023 (January to June) and +19% higher than 2019 (prior peak tourism numbers).

 

 

 

 

Belize saw a 30% tourism increase in 2024 (January through June) compared to 2023.

The Caribbean overall tourism is up 13% in 2024 compared to the year prior (2023 from Jan to June).

The 30% increase shows the pace that Belize is far outpacing the region for tourism growth year-over-year.

 

 

 

Belize also had an increase of 19% in tourism arrivals from the benchmark tourism of 2019 (compared to the same timeframe before the pandemic).

Caribbean travel is 10% higher in 2024 than pre-COVID levels of 2019.

The +19% increase shows the pace that Belize is outpacing the region for tourism growth post pandemic. A strong indicator of the trajectory of Belize tourism and tourism recovery!

 

 

Seat Capacity & Tourism

 

Belize in 2024 has seen record-breaking inbound tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize (internationally).

Belize also leads the region for seat capacity in 2024 at +43% from 2023. The more flights and higher seat capacity, the higher the level of interest and accessibility.

 

 

Caribbean Tourism vs Global Tourism

The Caribbean is the top growth tourism region since 2019. Belize is one of the fastest growing destination in the Caribbean region.

The Caribbean is recognized as the most tourism-dependent region in the world, with tourism serving as the largest economic contributor for many nations within the area.

 

 

Factors in Caribbean Tourism

Analysis of detailed air capacity data reveals that connectivity to the Caribbean is showing impressive growth, increasing +13% overall in the first half of 2024 compared to the previous year.

Canada is contributing significantly to this success — with an increase in seat capacity of +17% making it the largest origin market currently performing above the global average.

Meanwhile the largest origin market overall, the US, tracks global average growth at 13%.

Intra-Caribbean connectivity expanded by 20% year-on-year. This is a key enabler of multi-destination trips within the region.

 

North American Travel to Caribbean

Toronto emerges as the top-performing North American origin city for travel to the Caribbean in the first half of 2024, with arrivals up 23% year-on-year.

This growth is supported by a 15% increase in seat capacity between Toronto and the Caribbean, with various airlines increasing the number of available flights.

In the United States, New York (+13%) also shows sustained growth for Caribbean tourism. New York Travel to Belize is up +91% in 2024. This is largely due to the direct flights from JFK.

 

New York tourism to Belize had the largest growth, at +91% higher than 2023, following the launch of new direct flights in December. When direct JFK flights started with JetBlue.

 

New York tourism to Belize had the largest growth, at +91% higher than 2023, following the launch of new direct flights in December. When direct JFK flights started with JetBlue.

 

United Airlines is launching new nonstop flights from San Francisco (SFO) to Belize (BZE).

The flights are also timed to sync with United’s TransPacific schedule from SFO, enabling one-stop connections to destinations lіkе Таіреі, Hong Kong, Dubai, and Singapore.

Much like New York direct flights, San Francisco will have a large impact on Belize tourism growth!

 

 

Direct Non-Stop Flights between San Francisco (SFO) and Belize (BZE), start December 21, 2024.

Direct Flights from San Francisco to Belize

 

 

LATAM Travel to Caribbean

Latin America is a key emerging source market for Caribbean tourism.

Latin America has been the top emerging source of Caribbean tourism growth from 2019 to 2024 (Latin American Opportunity for Tourism).

The BTB (Belize Tourism Board) shared strategies being implemented to introduce Belize to Latin American travelers—a strategic move considering that Latin American travel within the region continues to grow. Colombia and Brazil are the top-performing Latin American markets for Caribbean travel.

 

Moreover, LATAM countries have been boosting capacity to the Caribbean. Colombia (+157%), Brazil (+187%), Mexico (+55%), and Peru (+13%) all are showing strong growths and audiences interested in a Caribbean holiday.

 

 

CBRE Caribbean & Central America Investment Report 2024

The Caribbean & Central America rank among the most desirable locations for offshore investment in 2024 (according to CBRE). CBRE is the global leader in commercial real estate services and investments. The CBRE 2024 Investors Intention Survey for CCA shows areas of interest and sectors in the Caribbean & Central America.

 

 

More than 50% of surveyed investors from Mexico, Central America and the Caribbean expect to buy more hotel assets this year, while only 12% expect to buy less. The Caribbean & Central America rank among the most desirable locations for offshore investment in 2024.

 

 

Conclusion

As the Caribbean outperforms global markets and remains one of the most desirable offshore investment destinations, it is impressive to see Belize eclipse the regional tourism figures. 2024, has been a record-breaking year for Belize tourism. Belize overnight tourism is up 30% in 2024.

In 2024, Belize has seen record-breaking tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize. Some of the contributing foctors around the success of Belize are;

  • 2024 has seen record-breaking inbound tourism numbers for Belize. This has been largely due to the increased number of direct flights and the improved accessibility.
  • Increased Family Travel. Belize was the second-ranked destination in the region for family travel, with a +35% increase, following only Curaçao, which saw a 38% increase.
  • An Increase in Latin American visitors (Colombia, Brazil, and Argentina in particular).

For more information on Caribbean properties, offshore investment opportunities, and Belize real estate, contact us.

 

 

Belize Tourism & Investment Data First Half of 2024 (January to June)

Belize Investment 2024

 

2024 has been a record-breaking year for Belize tourism! In 2024 (January to June), Belize has had the highest historic overnight tourism arrivals.

The Belize tourism growth and record-breaking tourism in 2024 has earned Belize the title of “Fastest Growing Caribbean Destination”. Based on the year-over-year tourism growth, Belize is the Fastest-Growing Caribbean Destination.

 

Belize Fastest Growing Caribbean Destination in 2024

 

 

Belize Fastest Growing Caribbean Destination

Belize Fastest Growing Caribbean Destination in 2024

 

The Caribbean Hotel & Tourism Association (CHTA), with lead travel analyst ForwardKeys, released a comprehensive report on Caribbean Tourism.

Belize has seen a 30% increase in international tourists in the first half of 2024 from 2023.

The 30% growth rate in Belize is impressive when compared to other Caribbean destinations like Puerto Rico, the Dominican Republic, Aruba, Cancun, The Bahamas, the Cayman Islands, and more.

 

 

Belize Overnight Tourism Arrivals in 2024

2024, has been a record-breaking year for Belize tourism. Belize overnight tourism is up 30% in 2024.

 

 

Belize Monthly Tourism Arrivals

 

 

 

 

 

 

Belize 2024 Tourism Growth

 

2024 has seen record-breaking inbound tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize (internationally).

Total Overnight Tourists to Belize in 2024 is  +30% higher than in 2023 (January to June) and +19% higher than 2019 (prior peak tourism numbers).

 

 

 

 

Belize saw a 30% tourism increase in 2024 (January through June) compared to 2023.

The Caribbean overall tourism is up 13% in 2024 compared to the year prior (2023 from Jan to June).

The 30% increase shows the pace that Belize is far outpacing the region for tourism growth year-over-year.

 

 

 

Belize also had an increase of 19% in tourism arrivals from the benchmark tourism of 2019 (compared to the same timeframe before the pandemic).

Caribbean travel is 10% higher in 2024 than pre-COVID levels of 2019.

The +19% increase shows the pace that Belize is outpacing the region for tourism growth post pandemic. A strong indicator of the trajectory of Belize tourism and tourism recovery!

 

 

Belize & Caribbean Tourism 2024 vs 2023

Belize tourism and overnight arrivals, has had a record-breaking year. Belize saw a 30% increase in 2024 (January through June) compared to 2023.

The Caribbean overall tourism is up 13% in 2024 compared to the year prior (2023 from Jan to June).

 

 

Belize & Caribbean Tourism 2024 vs 2019

Belize also had an increase of 19% in tourism arrivals from the benchmark tourism of 2019 (compared to the same timeframe before the pandemic).

Caribbean travel is 10% higher in 2024 than pre-COVID levels of 2019.

 

 

Belize tourism in 2024 has also increased +19% from 2019.

When compared to the regional stats. Caribbean tourism is 10% higher in 2024 than pre-COVID levels of 2019.

The +19% increase shows that Belize is outpacing the region for tourism growth and recovery.

 

 

 

 

 

Factors to Belize Tourism Growth

The ForwardKeys report also included stats on all the Caribbean markets and the factors driving regional and destination growth.

  • 2024 has seen record-breaking inbound tourism numbers for Belize. This has been largely due to the increased number of direct flights and the improved accessibility.
  • New York Travel to Belize is up +91% in 2024. This is largely due to the direct flights from JFK.
  • Increased Family Travel. Belize was the second-ranked destination in the region for family travel, with a +35% increase, following only Curaçao, which saw a 38% increase.
  • An Increase in Latin American visitors (Colombia, Brazil, and Argentina in particular).
  • An increase in travelers visiting the Caribbean to attend carnivals and festivals.

 

 

Belize ranks 2nd among all destinations in the region, with a 35% increase in family travel.

Increased Family Travel. Belize was the second-ranked destination in the region for family travel, with a +35% increase, following only Curaçao, which saw a 38% increase.

 

 

 

Belize Tourism by Destination

Belize Tourism is primarily US-based. 2024 Belize Tourism is:

  • 69% USA
  • 11% Canada
  • 20% Other

New York Travel to Belize is up +91% higher in 2024 than 2023, following the launch of new direct flights in December. When direct JFK flights started with JetBlue.

 

 

 

Belize Seat Capacity & Tourism

Belize in 2024 has seen record-breaking inbound tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize (internationally).

Belize also leads the region for seat capacity in 2024 at +43% from 2023. The more flights and higher seat capacity, the higher the level of interest and accessibility.

 

ForwardKeys Seat Capacity includes information on scheduled direct flights and their seat capacity to the different destinations.

Airline capacity reflects the planned total seat capacity airlines expect to offer. Change in seat capacity is a reflection of the supply and demand for a destination.

 

 

Belize Direct Flights

New York direct flights with JetBlue from JFK had a massive impact on Belize’s tourism growth. New York travel was the highest year-over-year increase (from any origin destination) in 2024. New York Travel to Belize is up +91% in 2024 compared to 2023.

United Airlines announced the launch of new nonstop flights from San Francisco (SFO) to Belize (BZE). Direct Non-Stop Flights Begin December 21, 2024.

Much like New York direct flights, San Francisco will have a large impact on Belize tourism growth!

The flights are also timed to sync with United’s TransPacific schedule from SFO, enabling one-stop connections to destinations lіkе Таіреі, Hong Kong, Dubai, and Singapore.

 

JetBlue Non-Stop Flights New York to Belize

United Airlines Direct Flights from San Francisco to Belize

 

 

 

 

 

 

 

Ambergris Caye Belize

Ambergris Caye has been the epicenter of Belize tourism for years and remains the country’s top tourism destination. Ambergris Caye and San Pedro Town are the top destination for overnight tourism in Belize. With 53.2% of the Overnight Tourists coming to Ambergris Caye.

The growth in tourism to Belize and Ambergris Caye has led to higher occupancy, and higher nightly rental rates (for vacation rentals).

In 2024, the average occupancy of vacation rentals from January to June was 67.5%. The nightly rental rates for Ambergris Caye vacation rentals have been $290 per night in 2024 (January to June).

 

 

 

The nightly rental rates for Ambergris Caye vacation rentals have been $290 USD per night in 2024 (January to June). This is for all unit-types and bedroom count. Which is a +34.3% increase from 2019.

 

For more information on Belize real estate and investing in Belize, contact us!

 

San Francisco to Belize Non-Stop Direct Flights Announced with United Airlines

Direct Non-Stop Flights from San Francisco to Belize

 

United Airlines is launching new nonstop flights from San Francisco to Belize.

The new nonstop flight between San Francisco and Belize City will start direct flights later this year and have the first flight from San Francisco (SFO) to Belize (BZE) on December 21, 2024.

United opens a new seasonal route between San Francisco (SFO) and Belize City (BZE).

Beginning on December 21, United will operate a redeye flight from its hub at SFO to Belize every Saturday.

 

United Airlines and Belize have announced the launch of a new nonstop flight from San Francisco, opening up an important source market for the fastest-growing destination in the Caribbean for 2024.

 

United Airlines Direct Flight San Francisco to Belize

The new flight to Belize from San Francisco will operate on Saturdays between December 21, 2024 and through April 30, 2024. To capture summer vacationers, United will also run the route from the end of May through August 17, 2025.

According to the airline, the outbound flight will depart San Francisco at 12:30 a.m. PST and, after a 5-hour-and-24-minute flight, land at Philip S. W. Goldson International Airport (Belize International Airport) at 07:54 a.m. local time.

The returning UA 2850 will depart Belize at 10:15 a.m. and land in San Francisco six hours later, at 2:24 p.m. PST.

The flights will be operated by a Boeing 737 MAX 8, with 16 reclining business class seats, 74 premium economy seats, and 101 economy seats.

 

 

International Connections

The route will also open up San Francisco to Belizean travelers. The flights are also timed to sync with United’s TransPacific schedule from SFO, enabling one-stop connections between Belize and Asian cities such as Hong Kong (HKG), Singapore (SIN), and Taipei (TPE).

 

Тhе nеw flight route will be the 5th Unіtеd nоnѕtор route tо Веlіzе. United Airlines currently has direct non-stop Belize flights from UЅ Сіtіеѕ Ноuѕtоn, Newark, Denver, and Chicago.

Тhе direct flight from San Francisco (SFO) iѕ tіmеd tо hеlр connect international travel to Веlіzе from сіtіеѕ lіkе Таіреі, Hong Kong, Dubai, and Singapore.

 

United Airlines

 

For more information on Belize tourism and investment opportunities in Belize, contact us at RE/MAX Belize!

 

CONTACT US

Belize Fastest Growing Caribbean Destination 2024

Belize is the Fastest-Growing Caribbean Destination

Belize is experiencing a significant travel boom. Based on the travel number for 2024, Belize is the the Fastest-Growing Caribbean Destination.

The Caribbean Hotel & Tourism Association (CHTA), with lead travel analyst ForwardKeys, released a comprehensive report on Caribbean Tourism.

Surrounded by the tropical Caribbean Sea in Central America, Belize is undergoing “impressive” tourism growth, according to a study carried out by analytics firm ForwardKeys.

So far in 2024, Belize has seen a 30% increase in international tourists. These figures represent the fastest growth rate of any destination in the Caribbean.

 

Belize tourism is up 30% in 2024 (Jan to June). The 30% growth rate is impressive when compared to similar high-growth destinations; Curacao is up 24%, while Aruba has seen arrivals climb by 20%, according to ForwardKeys.

In 2024 (January to June), Belize saw record-breaking tourist arrivals, earning Belize the position as one of the “Fastest-Growing Destinations in the Region.”

 

 

 

Belize has seen faster tourism growth than any other destination in the Caribbean. Belize far outperformed similarly booming destinations like Puerto Rico, the Dominican Republic, Aruba, The Bahamas, the Cayman Islands, and more.

Belize saw a 30% increase in arrivals for the first half of 2024. The 30% growth rate in Belize is impressive when compared to similar high-growth destinations; Curacao is up 24%, and Aruba is up 20%.

 

 

ForwardKeys called Belize’s growth “impressive.” The country has seen tourism growth steadily increase since post-pandemic travel relaunched.

Belize tourism and overnight arrivals, has had a record-breaking year. Belize saw a 30% increase in 2024 (January through June) compared to 2023. Belize also had an increase of 17.5% in tourism arrivals from the benchmark tourism of 2019 (compared to the same timeframe before the pandemic).

 

Belize Stands Out in 2024

In 2024 (January to June), Belize saw record-breaking tourist arrivals, earning Belize the position as one of the “Fastest-Growing Destinations in the Region.”

According to ForwardKeys, Belize has so far seen a 30% increase in arrivals for the first half of 2024 (compared to the same period in 2023). Belize was listed as the Fastest Growing Destination.

In 2024 (January to June), Belize saw record-breaking tourist arrivals, earning Belize the position as one of the “Fastest-Growing Destinations in the Region.” Belize saw a 30% increase in arrivals for the first half of 2024. The 30% growth rate in Belize is impressive when compared to similar high-growth destinations; Curacao is up 24%, and Aruba is up 20%. Belize is the Fastest-Growing Destination in 2024.

 

 

Belize Tourism 2024

Belize is listed as the fastest-growing mid-tier destination.

Mid-tier Caribbean destinations show impressive growth in the first half of 2024. Belize leads this ranking with international arrivals up +30% year-on-year. This is again driven by the U.S. market, in this case primarily due to bookings from New York, which are +91% higher than 2023 following the launch of new direct flights in December.

 

 

Key Factors for Growth

The ForwardKeys report also included stats on all the Caribbean markets and the factors driving regional and destination growth.

  • Increased Family Travel. Belize was the second-ranked destination in the region for family travel, with a +35% increase, following only Curaçao, which saw a 38% increase.
  • An Increase in Latin American visitors (Colombia, Brazil, and Argentina in particular).
  • An increase in travelers visiting the Caribbean to attend carnivals and festivals.

 

 

Top Family-Travel Destinations

Belize ranks 2nd among all destinations in the region, with a 35% increase in family travel.

Increased Family Travel. Belize was the second-ranked destination in the region for family travel, with a +35% increase, following only Curaçao, which saw a 38% increase.

 

 

 

Caribbean Destination Tourism & Seat Capacity

ForwardKeys Seat Capacity includes information on scheduled direct flights and their seat capacity to the different destinations.

Airline capacity reflects the planned total seat capacity airlines expect to offer. Change in seat capacity is a reflection of the supply and demand for a destination.

 

 

Caribbean vs Global Travel

Caribbean is the top growth tourism region since 2019. Belize is one of the fastest growing destination in the Caribbean region!

The Caribbean is recognized as the most tourism-dependent region in the world, with tourism serving as the largest economic contributor for many nations within the area.

 

 

Caribbean Travel 2024 vs 2023

The Caribbean is up 13% in 2024 compared to the year prior (2023 from Jan to June). Caribbean travel is 10% higher in 2024 than pre-COVID levels of 2019.

Belize tourism is up 30% in 2024 compared to the year prior (2023 from Jan to June). Belize travel is 19% higher in 2024 than pre-COVID levels of 2019.

 

Caribbean Travel 2024 vs 2019

Caribbean tourism is up 10% from 2019. Belize tourism is up 17.5% from 2019. Which is a strong indicator of the regions tourism rebound.

 

Caribbean Travel & Connectivity

Analysis of detailed air capacity data reveals that connectivity to the Caribbean is showing impressive growth, increasing +13% overall in the first half of 2024 compared to the previous year. Canada is contributing significantly to this success — with an increase in seat capacity of +17% making it the largest origin market currently performing above the global average. Meanwhile the largest origin market overall, the US, tracks global average growth at 13%.

Intra-Caribbean connectivity expanded by 20% year-on-year. This is a key enabler of multi-destination trips within the region.

 

The strong growth exhibited in tourism for the first half of 2024 — particularly in intra-regional connectivity — is crucial as the Caribbean seeks to attract more multi-destination travellers motivated to explore the diversity of the region’s tourism offer. It also enables regional destinations to target growth in high-value segments such as luxury travellers and family groups, who are more likely to travel to the Caribbean when increased international air capacity offers more flexibility in carrier choice and scheduling.

 

 

North American Travel to Caribbean

For the Caribbean, only the US market has fully recovered or exceeded 2019 levels, while the recovery rates of arrivals from Europe reached 88.2%, and Canada reached 88.1%, of 2019 tourism respectively. Caribbean travel from the US is up 12.6% from 2019.

 

 

Toronto emerges as the top-performing North American origin city for travel to the Caribbean in the first half of 2024, with arrivals up 23% year-on-year. This growth is supported by a 15% increase in seat capacity between Toronto and the Caribbean, with various airlines increasing the number of available flights.

In the United States, New York (+13%) also shows sustained growth.

Direct connectivity between North America and the Caribbean has improved significantly since 2019. In the first six months of 2024, 68% of all arrivals from the U.S. and Canada are flying directly to their Caribbean destination. 32% of arrivals will still connect via at least one connecting flight.

Increased connectivity from North American hubs expands the Caribbean and Belize’s reach into other U.S. and Canadian markets, attracting new travellers who can now reach the region’s destinations with just one stop.

 

 

Latin America Travel to Caribbean

The BTB (Belize Tourism Board) shared strategies being implemented to introduce Belize to Latin American travelers—a strategic move considering that Latin American travel within the region continues to grow. According to Forward Keys, Colombia and Brazil are the top-performing Latin American markets for Caribbean travel.

With Latin America seeing an emerging middle class, which has increasing disposable income that has led to a surge in outbound tourism.

Latin American region, boasting a population of over 650 million people and a combined GDP of over $5 trillion.

 

 

Latin America is a key emerging source market for Caribbean tourism.

The Latin America travel and tourism market is projected to expand significantly between 2024 to 2028, with its size anticipated to increase from USD $49.50 billion in 2023 to USD $64.42 billion by 2028 (Mordor Intelligence).

 

“Through our air ticketing data, we are observing a significant leap from the Latin Markets into the Caribbean, especially from Central America, Colombia, and Argentina. Even more encouraging is that they are flying in premium-class cabins, more than before the pandemic. A worthy market to tap into,” says Olivier Ponti, VP of Insights at ForwardKeys.

 

“Moreover, LATAM countries have been boosting capacity to the Caribbean. Colombia (+157%), Brazil (+187%), Mexico (+55%), and Peru (+13%) all are showing strong growths and audiences interested in a Caribbean holiday,” says Juan A. Gomez, Head of Market Intelligence at ForwardKeys.

 

 

 

 

 

Belize and Caribbean Tourism Investment

The Caribbean region has shown tremendous growth and tourism recovery throughout the years. Destinations like Puerto Rico, the Dominican Republic, and Belize are seeing an impressive increase in tourism arrivals.

Belize is experiencing a significant travel boom. International arrivals to Belize have surged by 30% in the first half of 2024 (January to June), with air arrivals showing the same impressive growth rate compared to 2023. This makes Belize the fastest-growing destination in the Caribbean.

Unlike many international beach destinations, Belize is an English-speaking country to makes the vacation experience for travelers even smoother. This also makes investing in Belize much easier as well, as Belize has full foreign ownership.

If you are looking to invest in Belize or purchase Belize real estate contact RE/MAX Belize!

 

 

 

Justice Hill NFL Player Invests in Belize Mahogany Bay Village

Justice Hill Invests in Belize

Justice Hill is a professional NFL running back for the Baltimore Ravens.

Justice Hill invested in Belize, now owning property in Mahogany Bay Village and near Secret Beach on Ambergris Caye.

NFL Justice Hill 

 

Justice Hill on Investing in Mahogany Bay Village

NFL player Justice Hill of the Baltimore Ravens discusses why he chose to invest in Belize, and more specifically, in Mahogany Bay Village!

Justice Hill shares his favorite highlights and experiences in this must-watch video.

 

Check out the video below;

 

 

 

When you are looking to invest in international real estate, it’s always great to hear from people who have already taken the leap and invested offshore. Who better to share their journey than someone who has already invested in Belize?

 

Justice Hill Belize

Justice Hill is an American professional Football running back for the Baltimore Ravens of the National Football League (NFL)!

Justice Hill dives into his real estate investments and explains why he invested where he did.

For more information on Belize real estate and investment opportunities, contact us!

 

Reggie Bullock NBA Player Belize Private Island Tour

Reggie Bullock NBA Private Island Belize

 

The official tour of Reggie Bullocks private island is finally here!

 

Reggie Bullock NBA Player Island Tour

 

Reggie Bullock Island Tour Video Link

See First Reggie Bullock Island Video

 

About Reggie Bullock Island

 

 

NBA player Reggie Bullock acquired an island in Belize and we have an exclusive tour with Reggie Bullock himself!

Reggie Bullock is an American NBA player. Bullock made headlines when he purchased a private island in Belize, dubbed ‘BULLOCK ISLAND‘.

In the latest video, we head to Bullock Island to meet with professional NBA player Reggie Bullock!

Reggie gives a full tour of his private island in Belize and explains exactly what he is building on the 5-acre site. You won’t want to miss this video if you’re looking at Belize real estate or if you’re a basketball fan!

Reggie didn’t just purchase the now famous “HEART” shaped island. He immediately started developing the site with plans to have a residence measuring 4,000 square feet for himself and his family, along with eight rental villas for vacationers. In addition, he is developing a restaurant/bar, spa, basketball court, and infinity pool.

“One of my main things, it was just more about generational wealth for me. It was a project that I felt like I should jump on, and it’s never really been done before. But I was all up for the challenge for it.”

  • Reggie Bullock

Star endorsements lead to publicity, especially when they are investing in an emerging vacation market like Belize. Celebrity endorsements and acquisition of property are major draws not only in the real estate market but also in tourism.

Check out the latest video for a full tour of Bullock Island with Reggie Bullock himself!

Reggie Bullock Island Tour Video

 

 

 

Reggie Bullock In-Person Tour of Private Island

 

 

Reggie Bullock Island Photos

Check out some of the latest photos of Bullock Island in Belize!

 

 

First Look at Reggie Bullock Island

 

Contact Us to learn more about Belize real estate and investing in Belize!

 

Ambergris Caye 2023 Vacation Rental Data

Ambergris Caye Vacation Rentals in 2023

Ambergris Caye has been the epicenter of Belize tourism for years and remains the country’s top tourism destination. Ambergris Caye and San Pedro Town have already seen 53.2% of Belize overnight tourism in 2024. In 2023, Ambergris Caye tourism saw substantial growth and is now at all-time highs! This has led to growth in the investment in Ambergris Caye real estate.

Ambergris Caye luckily has something we like to call “Island Economics.” When investing in an island, there is only so much land available. The limitations on available land create scarcity, which is a value to real estate investors. There is only so much land on an island. Island economics means that you see greater property appreciation on an island due to scarcity of property and limitations on how much can be built.

Tourism growth, increased awareness, offshore residency, and improved connectivity have all led to higher investment yields on vacation rental properties on Ambergris Caye. Ambergris Caye and San Pedro Town (the municipality on the island of Ambergris Caye) are by far the top destinations in Belize. Below, we look at the updated tourism data and vacation rental data for Ambergris Caye in 2023!

Belize Tourism & Flight Data 2024

 

Ambergris Caye Tourism

Ambergris Caye has seen tourism hitting all-time highs year-over-year as we become a globally recognized destination. From 2010 to 2023 (13 years), Ambergris Caye overnight tourism (people booking rental units) has grown at an annual compounded rate of 18.7% per year increase, with overnight tourism over doubling as it is up 145.1% from 2010 to 2024.

Ambergris Caye and San Pedro Town are the top destination for overnight tourism in Belize. With 53.2% of the Overnight Tourists coming to Ambergris Caye.

 

 

 

 

Belize Overnight Tourism Year-Over-Year

 

 

Belize Tourism Q1 2024

 

Belize Quarterly Tourism Arrivals

Belize Tourism Board Overnight Arrivals

 

Ambergris Caye Vacation Rental Inventory

Even though tourism is growing, the total rooms for rentals have stayed stagnant, with limited new losing inventory and often even a decline in inventory. Tourism is growing, and this usually correlates to added supply; that said, Ambergris Caye, Belize, is at the perfect time for investment as we have unique market conditions that have led to increased demand and a decrease in supply inventory.

Rental Inventory on Ambergris Caye has dropped by -4% from 2022 to 2023. Also dropped -13.9% over the last 3 years. This is largely due to the influx of people moving to Belize and the growing expat community and people who can work remotely.

 

Ambergris Caye Vacation Rental Lodging Inventory

 

For lodging, as a point of reference, Ambergris Caye saw -4% from last year. Lodging inventory for vacation rentals on Ambergris Caye has seen a -13.9% decrease over the last 3 years.

Ambergris Caye has had a compounded annual tourism growth over 12 years at an average of 14.8% per year (2010 to 2023). With Q1 2024, the annual tourism growth rate jumped to 18.7% per year (2010 to 2024).

As you can see, the 3-year trend has been consistent, with many quarters witnessing a dip in rental inventory (even with an increase in demand). This creates a unique opportunity for investors. With the shortage in supply and increase in demand, there is a need for more lodging and rentals.

 

Increase in Demand + Decrease in Supply = Increase in Price & Rent

 

 

 

Many industry experts predict Ambergris Caye real estate prices and nightly rental rates will continue to increase with the continued growth in tourism and higher volume of direct international flights. This will lead to greater equity appreciation and a higher cash-flow yield.

Even though demand is on the rise, the supply has remained stagnant. With increased awareness comes increased demand, but the lodging and vacation rental inventory supply does not meet the demand growth.

This has led to higher nightly rental rates and higher occupancy for vacation rentals.

 

 

Ambergris Caye Occupancy

 

 

In 2022, Ambergris Caye had an average vacation rental occupancy of 54.8%. In 2023, the average occupancy of vacation rentals was 61.13%.

 

 

 

 

 

 

Ambergris Caye Monthly Occupancy

 

 

Ambergris Caye Nightly Rental Rates

In 2023, Ambergris Caye saw vacation rental Nightly Rental Rates (ADR) increase by +15% from 2022. The increase in ADR (Nightly Rental Rates) led to increased revenue. In 2023, the average nightly rental rate on Ambergris Caye  was $274 USD per night, which is up from $262 USD per night in 2022.

 

Rates in $ USD

 

 

Rates in $ USD

 

 

Rates in $ USD

 

Rates in $ USD

 

 

Ambergris Caye Investment Revenue

The increase in tourism has led to higher occupancy and higher nightly rental rates (ADR). The increased occupancy and ADR have resulted in higher revenues. On Ambergris Caye, vacation rental gross revenue is up 30% in 2023 (from 2022).

 

Annual Average Rental Revenue

Revenue in $ USD

 

 

Monthly Rental Income Ambergris Caye

 

Revenue in $ USD

 

Revenue in $ USD

 

 

Home vs Condo Vacation Rentals

What is fascinating is the renal income for detached homes over condos (and the % annual growth).

 

Condo & House Rental Revenue

 

 

 

Detached homes on Ambergris Caye had an average annual gross revenue of $58,950 USD in 2023 (Airbnb income). Compared to condos, which saw an average gross yearly earnings of $33,200 USD.

For more information on investing in Belize and Ambergris Caye rental income investment opportunities, contact us at RE/MAX Belize!

 

 

Belize Tourism & International Flight Data Q1 2024

Belize Tourism & International Flights

2024 has been a record-breaking year for Belize tourism! In Q1 2024, Belize has seen record-breaking tourism arrivals (January to March 2024).

This indicates that year-to-date, Belize Overnight Tourism has had a record-breaking numbers and the highest volume in the countries tourism history.

 

 

Record Breaking Tourism in Q1 2024

 

Belize Overnight Tourism Arrivals in 2024

 

January 2024 Overnight Tourists: 57,628

February 2024 Overnight Tourists: 59,067

March 2024 Overnight Tourists: 69,202

 

Total Q1 2024 Overnight Tourists: 185,897

 

February was record breaking with 59,067. But March saw an all-time high and new record with 69,202 arrivals. March 2024 first time Belize has had over 60,000 overnight tourism arrivals (with 69,202 overnight arrivals in the month).

Both of the record breaking months (February & March) have made Q1 2024 the highest ever quarter for overnight tourism in Belize! Total Overnight Tourists for Q1 in 2024 was 185,897.

 

Belize Monthly Tourism Arrivals

 

2024 has seen record-breaking inbound tourism numbers. This has been largely due to the increased number of direct flights and the improved accessibility to Belize (internationally).

February 2024 was a record-setting month for Belize tourism. This record-setting tourism month was quickly superseded by March 2024 which saw an impressive 69,202 overnight tourists arrive in Belize!

March 2024 has now became the highest single month for overnight tourism in Belize at 69,202 tourists. The prior single-month record (before 2024) was in March 2019 at 57,697 overnight tourists.

Total Overnight Tourists for Q1 in 2024 was 185,897. This is 27.9% higher than in 2023 (last year Q1) and 17.5% higher than the prior record set in 2019.

 

Belize Overnight Tourism

Overnight tоurіѕm arrivals to Belize increased bу оvеr 27.9% іn Q1 2024 (Јаnuаrу to March), compared tо the ѕаmе реrіоd lаѕt уеаr (2023). The trend in Belize tourism is expected to have continued growth, this is seen by the 17.5% increase in overnight tourism from 2019 (Q1). This is expected to result in an оvеrаll 11% estimated growth fоr the Belize tоurіѕm ѕесtоr іn 2024.

Belize Tourism rebounded strongly in 2023 and has continued in 2024. The stats from the early months of 2024 signal that the year 2024 will be a record-breaking year for inbound tourism to Belize!

 

 

 

 

 

 

 

 

 

 

 

 

 

International Flight at Belize BZE

The largest factor to the growth in Belize tourism has been the increased air transport and increase in direct international flights to Belize. In March 2024, there were 511 international flights landing at BZE (Philip S.W. Goldson International Airport in Belize City). 

 

BZE International Flights in 2024

Average of 71 International Flights a Day
Daily Range of 42 to 153 International Flights

 

 

 

Non-Stop Direct Flights to Belize

 

 

 

Direct Flights New York (JFK) to Belize (BZE) with JetBlue

JetBlue New York (JFK) to Belize (BZE)

  • Monday
  • Wednesday
  • Saturday

 

 

JetBlue Starts Direct Flights from New York JFK

JetBlue Announces Direct Flights to Belize from New York JFK

Scheduled flight times are the following (all times are local):

  • JFK to BZE: Departs at 8:29 a.m. and arrives at 12:14 p.m.
  • BZE to JFK: Departs at 1:30 p.m. and arrives at 7:00 p.m.

JetBlue Belize Flight Deals

 

Ambergris Caye & San Pedro Tourism

Ambergris Caye and San Pedro Town are the top destination for overnight tourism in Belize. With 53.2% of the Overnight Tourists coming to Ambergris Caye.

In March 2024, the San Pedro Airport had over 2,000 inbound and outbound flights. Peak is Saturday, with an average of 180 flights.

Monthly Average of 58 Departures Daily (6:30 am to 17:00 pm)
Monthly Average of 66 Arrivals Daily (7:20 am to 19:45 pm)

 

 

Belize Investment Opportunities

The Belize tоurіѕm ѕесtоr rеmаіnѕ роіѕеd fоr further growth with more development and improved accessibility! This has industry experts орtіmіѕtіс and bullish on Belize as a destination (for tourists and investors).

Tourism growth, increased awareness, offshore residency, and improved connectivity have all led to higher investment yields for real estate and investment properties in Belize. Ambergris Caye remains the the top destinations in Belize for overnight tourists.

Additional Links:

Q1 2024 Belize Record Breaking Tourism

Record-Breaking Tourism Prompt Airport Upgrades

Latin America & South America Growth Opportunities for Belize

Belize Tourism January & February 2024

Ambergris & Belize Tourism Data 2023

Caribbean & Regional Tourism 2023

If you are looking to learn more about Belize tourism and Belize real estate, contact us!