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!

 

 

Mayor Wally Nunez Discusses Transforming San Pedro, Belize

San Pedro Belize Mayor Wally Nunez

We sit down with the Mayor of San Pedro Town Wally Nunez and discuss what is happening round San Pedro and the future of Ambergris Caye, Belize.

Wally Nunez and his team recently won reelection in San Pedro Town. He took the time to sit down with us and explains his past and passion for Belize and the future vision for San Pedro.

If you’re wondering what is happening in San Pedro and around Ambergris Caye, Belize, check out this video. As we sit down with Mayor Wally Nunez to discuss everything that has recently happened as well as the future plans on the island of Ambergris Caye.

We get Wally’s insight into the Finance & Revenue Collections, Infrastructure Plans, Current Development, Planned Development, Tourism, Local Economic Development, Foreign Relations, Traffic Management, Human Resources, Staff Development Training, Trade & Investment!

Check out the latest video below;

Transforming San Pedro Belize with Mayor Wally Nunez

 

Wally takes the time to share ideas on the island as well as discuss his past term as Mayor and his vision for San Pedro. If you’re interested in Belize real estate and the future of Ambergris Caye, Belize, you want to miss this!

Contact us to learn more about Ambergris Caye & Belize!

 

Latin America & South America Growth Opportunities for Belize

Latin America & South America Growth Opportunities for Belize Tourism

Веlіzе’ѕ tоurіѕm industry іѕ booming, as seen in Q1 of 2024 and the first few mоnthѕ оf the year setting all-time highs and hіѕtоrіс rесоrd-breaking numbers in overnight tourism. The tourism growth (the largest sector in Belizean economy) is estimated tо gеnеrаtе аn unprecedented $1.4 bіllіоn іn rеvеnuе in 2024, this was announced by Minister of Тоurіѕm Аnthоnу Маhlеr.

With the Mayan Train in Mexico and increased travel and tourism from Latin America and South America. That said, the airport upgrades are important since the United States represents the largest percentage of overnight tourism arrivals.

Currently Americans (from the US) make up 69.3% of Belize tourism in 2024.

Belize has shown impressive tourism numbers through 2023 and now record breaking in 2024 due to quick and clever travel regulations and practices put into place. Belize has also improved the accessibility with more non-stop direct flights and increased number of airlines (and destinations).

“The success of the recovery is a testament to the power of collaboration. Tourism leaders, businesses, governments, organizations, airlines, and our hospitality professionals have achieved impressive results by working together. We are grateful for the hard work and close partnerships that continue to allow us to recover and soar to new heights,” says Nicola Madden-Greig, President of, the Caribbean Hotel and Tourism Association (CHTA).

 

Latin America & South American Tourism

“Our key source markets come from the United States, Canada and we think Mexico and Latin America both areas have great opportunity for us.”

  • Anthony Mahler, Minister of Tourism

Tourism in Belize is growing, and the competition is getting stronger now that we can look at the pre-pandemic and post-pandemic trends. Diversifying the attraction and marketing of Belize by widening the net is pivotal. The 2023 data by ForwardKeys shows there is a real potential to convert more international arrivals from Latin America, specifically Colombia and Argentina.

“Through our air ticketing data, we are observing a significant leap from the Latin Markets into the Caribbean and Belize, 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.

Beyond the main traditional markets, the US and Canada, there are tourism opportunities to be found in the neighboring countries. Latin American markets represent an exciting opportunity for Belize and the Caribbean.

Travel demand for Belize as a destination quickly gained momentum after most regional countries dropped travel requirements. The strong pent-up demand has been propelling visitor arrivals from Latin America beyond pre-pandemic levels, up by 14% in 2023, and with greater growth potential. The best-performing markets in the region are Colombia, Peru, and Argentina.

The largest Caribbean Regional tourism growth was from Colombia which was up +48% from 2019 to 2023.

 

 

 

Flight Connectivity from Latin America & South America

The restoration of air connectivity is one of the key factors driving post-COVID-19 travel demand recovery, and Latin America is no exception. After years of limited travel activity, now Latin American travelers have fewer options to get to their desired Caribbean vacation. Fewer direct flights, and lower flight frequencies, make it harder and more costly to travel. In this scenario, connections with gateway airports are fundamental to remaining competitive.

Panama City (PTY) has emerged as a key gateway hub for Latin America, particularly, for connecting this region to the Caribbean. This is a result of a decided and successful strategy to transform Panama’s Tocumen International Airport into an intra-regional airport hub. Panama has become the first choice when transitioning to the Caribbean, gaining a share over other regional airports, such as Bogota, Lima and Miami.

While it is not always feasible to develop direct flight connections with emerging markets, establishing regular and frequent connections with the right network airports is fundamental for reaching a more diverse travel audience.

 

 

Record-Breaking Belize Tourism in Q1 2024

Belize Tourism Prompt Airport Upgrades

 

 

 

Record-Breaking Tourism Prompt Airport Upgrades

Record-Breaking Tourism in 2024 Prompt Airport Upgrades

 

After seeing Record-Breaking Tourism in Q1 of 2024, the volume of inbound overnight tourism has led to proposed airport upgrades.

Data from the Belize Tourism Board shows that there were 511 international flights in March 2024 and more than sixty-nine thousand visitors.

The month of March 2024 was record-breaking for Belize tourism. Increased visitors to Belize means an increased demand for the facilities at the BZE Philip Goldson International Airport (PGIA). To address that need there is an ongoing, long-term project for the upgrade of the PGIA.

Tourism in Belize closed out the month of March with a record-breaking number of visitors. The increased inflow of visitors surpasses 2019, which is the benchmark year for Belize Tourism. However, increased visitors to Belize means an increased demand for the facilities at the BZE Philip Goldson International Airport (PGIA).

To address that need Minister Mahler said that there is an ongoing, long-term project for the upgrade of the PGIA.

Anthony Mahler (Minister of Tourism) said that marketing efforts are being ramped up in Mexico and South America, but the airport upgrades are important since the United States remains Belize’s number one tourist market.

Currently Americans (from the US) make up 69.3% of Belize tourism in 2024.

Belize along with the BTB (Belize Tourism Board) are increasing the marketing efforts attracting regional tourism and tourism from Latin American markets. While also expanding the reach and accessibility of the primary Belize Tourism markets of the US & Canada.

Belize has shown impressive tourism numbers through 2023 and now record breaking in 2024 due to quick and clever travel regulations and practices put into place. Belize has also improved the accessibility with more non-stop direct flights and increased number of airlines (and destinations).

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.

 

 

 

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

 

 

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!

 

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.

 

 

 

 

Direct Flights to Belize 2024

 

 

 

Increased International Flights to Belize

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). 

PGIA Philip S.W. Goldson International Airport BZE

 

 

 

BZE International Flights in 2024

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

 

 

 

 

Direct Flights Washington DC & Baltimore (BWI) to Belize (BZE) with Southwest Airlines

SouthWest Airlines started direct flights from BWI to Belize on March 9, 2024

SouthWest Airlines BWI to BZE

 

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

JetBlue Starts Direct Flights from New York JFK

JetBlue Announces Direct Flights to Belize from New York JFK

 

JetBlue New York (JFK) to Belize (BZE)

  • Monday
  • Wednesday
  • Saturday

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

 

 

 

Belize Tourism Future Outlook

Веlіzе’ѕ tоurіѕm industry іѕ booming, as seen in Q1 of 2024 and the first few mоnthѕ оf the year setting all-time highs and hіѕtоrіс rесоrd-breaking numbers in overnight tourism. The tourism growth (the largest sector in Belizean economy) is estimated tо gеnеrаtе аn unprecedented $1.4 bіllіоn іn rеvеnuе in 2024, this was announced by Minister of Тоurіѕm Аnthоnу Маhlеr.

With the Mayan Train in Mexico and increased travel and tourism from Latin America and South America. That said, the airport upgrades are important since the United States represents the largest percentage of overnight tourism arrivals.

Currently Americans (from the US) make up 69.3% of Belize tourism in 2024.

Belize has shown impressive tourism numbers through 2023 and now record breaking in 2024 due to quick and clever travel regulations and practices put into place. Belize has also improved the accessibility with more non-stop direct flights and increased number of airlines (and destinations).

“The success of the recovery is a testament to the power of collaboration. Tourism leaders, businesses, governments, organizations, airlines, and our hospitality professionals have achieved impressive results by working together. We are grateful for the hard work and close partnerships that continue to allow us to recover and soar to new heights,” says Nicola Madden-Greig, President of, the Caribbean Hotel and Tourism Association (CHTA).

 

Latin America & South American Tourism

“Our key source markets come from the United States, Canada and we think Mexico and Latin America both areas have great opportunity for us.”

  • Anthony Mahler, Minister of Tourism

Tourism in Belize is growing, and the competition is getting stronger now that we can look at the pre-pandemic and post-pandemic trends. Diversifying the attraction and marketing of Belize by widening the net is pivotal. The 2023 data by ForwardKeys shows there is a real potential to convert more international arrivals from Latin America, specifically Colombia and Argentina.

“Through our air ticketing data, we are observing a significant leap from the Latin Markets into the Caribbean and Belize, 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.

Beyond the main traditional markets, the US and Canada, there are tourism opportunities to be found in the neighboring countries. Latin American markets represent an exciting opportunity for Belize and the Caribbean.

Travel demand for Belize as a destination quickly gained momentum after most regional countries dropped travel requirements. The strong pent-up demand has been propelling visitor arrivals from Latin America beyond pre-pandemic levels, up by 14% in 2023, and with greater growth potential. The best-performing markets in the region are Colombia, Peru, and Argentina.

 

 

 

International Flight Connectivity

 

The restoration of air connectivity is one of the key factors driving post-COVID-19 travel demand recovery, and Latin America is no exception. After years of limited travel activity, now Latin American travelers have fewer options to get to their desired Caribbean vacation. Fewer direct flights, and lower flight frequencies, make it harder and more costly to travel. In this scenario, connections with gateway airports are fundamental to remaining competitive.

Panama City (PTY) has emerged as a key gateway hub for Latin America, particularly, for connecting this region to the Caribbean. This is a result of a decided and successful strategy to transform Panama’s Tocumen International Airport into an intra-regional airport hub. Panama has become the first choice when transitioning to the Caribbean, gaining a share over other regional airports, such as Bogota, Lima and Miami.

While it is not always feasible to develop direct flight connections with emerging markets, establishing regular and frequent connections with the right network airports is fundamental for reaching a more diverse travel audience.

 

Ambergris Caye & San Pedro

Ambergris Caye Remains #1 Top Destination in Belize!

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

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!

 

Belize Tourism Q1 2024: All-Time High & Record-Breaking Tourism

Belize Tourism Q1 2024

 

Record-breaking numbers for the first quarter in Belize’s overnight arrivals!

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.

 

 

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.

 

January to March Belize Tourism Arrivals

 

 

 

Belize Tourism Growth

 

Q1 2024 saw a 27.9% increase in overnight tourism arrivals from Q1 2023.

Q1 2024 was a 17.5% increase from Q1 in prior peak year of 2019.

 

Annual Q1 Belize Tourism Arrivals

 

 

 

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!

 

 

 

Веlіzе’ѕ tоurіѕm industry іѕ booming, as seen in Q1 of 2024 and the first few mоnthѕ оf the year setting all-time highs and hіѕtоrіс rесоrd-breaking numbers in overnight tourism. The tourism growth (the largest sector in Belizean economy) is estimated tо gеnеrаtе аn unprecedented $1.4 bіllіоn іn rеvеnuе in 2024, this was announced by Minister of Тоurіѕm Аnthоnу Маhlеr.

 

Belize Tourism Q1 Arrivals 2017 to 2024 (January to March)

Below is the overnight tourism trend from 2017 to 2024 for January to March (Q1 of each year);

Belize Tourism Board Data

 

 

Increased International Flights to Belize

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). 

PGIA Philip S.W. Goldson International Airport BZE

 

Direct Flights to Belize 2024

 

 

 

Direct Flights Washington DC & Baltimore (BWI) to Belize (BZE) with Southwest Airlines

SouthWest Airlines started direct flights from BWI to Belize on March 9, 2024

SouthWest Airlines BWI to BZE

 

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

JetBlue Starts Direct Flights from New York JFK

JetBlue Announces Direct Flights to Belize from New York JFK

JetBlue New York (JFK) to Belize (BZE)

  • Monday
  • Wednesday
  • Saturday

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

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.

 

 

Record-Breaking Tourism Leads to Airport Upgrades

The month of March 2024 was record-breaking for Belize tourism. Increased visitors to Belize means an increased demand for the facilities at the BZE Philip Goldson International Airport (PGIA). To address that need there is an ongoing, long-term project for the upgrade of the PGIA. Belize along with the BTB (Belize Tourism Board) are increasing the marketing efforts attracting regional tourism and tourism from Latin American markets.

With the Mayan Train in Mexico and increased travel and tourism from Latin America and South America. That said, the airport upgrades are important since the United States represents the largest percentage of overnight tourism arrivals.

Currently Americans (from the US) make up 69.3% of Belize tourism in 2024.

Record Breaking Tourism Prompts Airport Upgrades

 

 

Future Outlook on Regional Tourism

Belize has shown impressive tourism numbers through 2023 and now record breaking in 2024 due to quick and clever travel regulations and practices put into place. Belize has also improved the accessibility with more non-stop direct flights and increased number of airlines (and destinations).

“The success of the recovery is a testament to the power of collaboration. Tourism leaders, businesses, governments, organizations, airlines, and our hospitality professionals have achieved impressive results by working together. We are grateful for the hard work and close partnerships that continue to allow us to recover and soar to new heights,” says Nicola Madden-Greig, President of, the Caribbean Hotel and Tourism Association (CHTA).

 

The rise and power of the South American market in the region.

 

Tourism in Belize is growing, and the competition is getting stronger now that we can look at the pre-pandemic and post-pandemic trends. Diversifying the attraction and marketing of Belize by widening the net is pivotal. The 2023 data by ForwardKeys shows there is a real potential to convert more international arrivals from Latin America, specifically Colombia and Argentina.

“Through our air ticketing data, we are observing a significant leap from the Latin Markets into the Caribbean and Belize, 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.

Beyond the main traditional markets, the US and Canada, there are tourism opportunities to be found in the neighboring countries. Latin American markets represent an exciting opportunity for Belize and the Caribbean.

Travel demand for Belize as a destination quickly gained momentum after most regional countries dropped travel requirements. The strong pent-up demand has been propelling visitor arrivals from Latin America beyond pre-pandemic levels, up by 14% in 2023, and with greater growth potential. The best-performing markets in the region are Colombia, Peru, and Argentina.

 

 

Flight Connectivity

 

The restoration of air connectivity is one of the key factors driving post-COVID-19 travel demand recovery, and Latin America is no exception. After years of limited travel activity, now Latin American travelers have fewer options to get to their desired Caribbean vacation. Fewer direct flights, and lower flight frequencies, make it harder and more costly to travel. In this scenario, connections with gateway airports are fundamental to remaining competitive.

Panama City (PTY) has emerged as a key gateway hub for Latin America, particularly, for connecting this region to the Caribbean. This is a result of a decided and successful strategy to transform Panama’s Tocumen International Airport into an intra-regional airport hub. Panama has become the first choice when transitioning to the Caribbean, gaining a share over other regional airports, such as Bogota, Lima and Miami.

While it is not always feasible to develop direct flight connections with emerging markets, establishing regular and frequent connections with the right network airports is fundamental for reaching a more diverse travel audience.

 

 

 

Belize Real Estate & 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:

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!

 

 

 

Belize A Haven for Investors and Entrepreneurs

Belize A Haven for Investors and Entrepreneurs

Belize is an emerging hotspot for investors and entrepreneurs seeking opportunities in a supportive, business-friendly environment. The country’s commitment to fostering economic growth through foreign investment is evident in its policies and incentives designed to attract and support business ventures across various sectors.

 

Government Incentives for Investors

The Belizean government has implemented a series of measures aimed at encouraging foreign investment. These include tax incentives, such as tax holidays and exemptions on import duties for business-related materials and equipment. The process for registering a business in Belize is straightforward and efficient, minimizing bureaucratic hurdles and making it easier for new businesses to get off the ground. Such policies demonstrate Belize’s commitment to creating a conducive environment for investment and entrepreneurship.

 

Opportunities in a Growing Tourism Industry

Belize’s tourism industry is on an upward trajectory, fueled by the country’s natural attractions and Caribbean beaches. This growth in tourism presents opportunities for investment in hospitality, eco-tourism, adventure tourism, and cultural experiences. Entrepreneurs can tap into this expanding market by offering unique accommodations, tours, recreational activities, and other tourism-related services. The government’s emphasis on sustainable and eco-friendly tourism practices also opens avenues for investments in green businesses and initiatives that cater to the growing number of environmentally conscious travelers.

 

Fertile Ground for Agriculture

Belize’s fertile land and favorable climate make it an ideal location for agricultural ventures. The country’s agriculture sector is diverse, ranging from sugar and citrus fruits to bananas and cocoa. There is also a growing interest in organic farming and non-traditional agricultural products, which presents a niche market for new entrants. Investors can explore opportunities in both the production and processing stages of agriculture, benefiting from Belize’s rich natural resources and its access to international markets through trade agreements.

 

Real Estate Investment Potential

The real estate market in Belize is flourishing, with demand for both residential and commercial properties. Investors can find opportunities in developing housing, condominiums, resorts, and office spaces. The country’s real estate sector is buoyed by its attractiveness to expatriates and retirees. The government’s favorable stance on foreign ownership of property simplifies the process for investors looking to purchase or develop land in Belize. The Belize investment opportunity for most foreigners is through Belize real estate.

 

English-Speaking Legal System

One of Belize’s unique advantages is its English-speaking legal system, based on the British common law system. This makes legal proceedings, contracts, banking, and business registrations more accessible to English-speaking investors, eliminating the language barrier that can complicate such processes elsewhere. The transparency and familiarity of the legal framework add a layer of security for foreign investors, making Belize an even more attractive destination for business ventures.

 

 

Luigi Wewege on Americans Opening Offshore Bank Accounts In Belize

Luigi Wewege on Americans Opening Offshore Bank Accounts In Belize

Navigating The Waters Of FATCA: A Guide For U.S. Citizens Opening Offshore Accounts In Belize

Luigi Wewege is President of Caye International Bank, headquartered in Ambergris Caye, Belize. Luigi Wewege shares his thoughts and strategy for U.S. Citizens opening Offshore Bank Accounts in Belize.

The allure of offshore banking for U.S. citizens extends far beyond the convenience of financial transactions or the pursuit of investment opportunities on foreign shores. With the enactment of the Foreign Account Tax Compliance Act (FATCA) in 2010, the U.S. government aimed squarely at reducing tax evasion, compelling U.S. citizens and foreign financial institutions alike to adhere to stringent reporting standards. This editorial explores the nuances of FATCA, demystifying the obligations and opportunities it presents for those looking to the horizon for their financial endeavors.

 

Off-Shore Banking in Belize

The allure of offshore banking for U.S. citizens extends far beyond the convenience of financial transactions or the pursuit of investment opportunities on foreign shores. With the enactment of the Foreign Account Tax Compliance Act (FATCA) in 2010, the U.S. government aimed squarely at reducing tax evasion, compelling U.S. citizens and foreign financial institutions alike to adhere to stringent reporting standards. This editorial explores the nuances of FATCA, demystifying the obligations and opportunities it presents for those looking to the horizon for their financial endeavors.

FATCA represents a pivotal shift in the global financial landscape, designed to peel back the layers of privacy that once shrouded offshore accounts. By mandating that foreign financial institutions report on the holdings of U.S. citizens, the act ensures a level of transparency previously unseen, making it challenging for individuals to conceal assets overseas. For U.S. citizens, this means navigating a maze of reporting obligations, from disclosing account details to reporting income earned through foreign investments.

 

US Foreign Account Tax Compliance Act

For U.S. taxpayers, FATCA imposes the requirement to file Form 8938, detailing their foreign financial assets. This form is a critical component of one’s annual tax return, outlining the highest value of foreign accounts and the income they have generated. The filing thresholds:

  1. $50,000 in the previous year ($100,000 for joint filers)
  2. $200,000 cumulatively for the five previous years
  3. Failing to comply with these filing requirements can result in hefty penalties. These penalties can range from a 5% to a 10% increase on the unreported amount, depending on the duration of non-compliance. In extreme cases, willful non-compliance can even lead to criminal prosecution.

While FATCA’s reach is extensive, certain exceptions and exemptions offer a reprieve for specific accounts and situations. Not all foreign assets are ensnared in the FATCA net; retirement accounts and certain types of financial institutions in countries without an FATCA agreement with the U.S. may fall outside the scope of mandatory reporting. Yet, the complexity of these exceptions necessitates professional guidance to navigate successfully, ensuring that U.S. citizens are both compliant and taking full advantage of potential reporting exemptions.

 

International Banking for Americans

Owning an offshore account under FATCA’s watchful eye extends beyond mere reporting; it introduces a tapestry of tax implications that can affect an individual’s financial landscape. From income tax on foreign earnings to considerations around estate tax, the financial ramifications of offshore banking are multifaceted. Professional advice becomes indispensable, offering a roadmap through the tax implications and ensuring that individuals can harness the full potential of their offshore accounts while remaining on the right side of the law.

Contrary to the shadow of tax evasion that FATCA might cast, there are myriad legitimate reasons for U.S. citizens to engage in offshore banking. Whether seeking diversification, access to unique investment opportunities, or simply the convenience of transacting in a foreign country, offshore accounts can offer significant advantages. Understanding these benefits within the context of FATCA’s regulations allows U.S. citizens to explore international financial horizons confidently and legally.

The intricacies of FATCA, combined with the broader complexities of international finance, underscore the necessity for expert guidance. Tax and legal professionals specializing in this field can provide the compass needed to navigate the FATCA maze. From ensuring compliance with reporting obligations to optimizing the strategic benefits of offshore banking, professional advice is the cornerstone of effective international financial planning for U.S. citizens.

The introduction of FATCA has undeniably transformed the landscape of offshore banking for U.S. citizens, imposing a framework of transparency and compliance that requires diligent navigation. As the world of international finance continues to evolve, the importance of understanding and adhering to FATCA cannot be overstated. With the right guidance and a comprehensive grasp of the law’s requirements and opportunities, U.S. citizens can explore the vast potential of offshore accounts with confidence and compliance, ensuring their financial strategies are both robust and legally sound.

 

Luigi Wewege

Check out more from Luigi Wewege below;

8 Reasons to Buy Overseas with Luigi Wewege

Banking in Belize with Luigi Wewege

 

Luigi Wewege