Belize is a small country located in Central America, bordered by Mexico to the north, Guatemala to the west and south, and the Caribbean Sea to the east. It is known for its beautiful beaches, lush rainforests, and diverse wildlife.
But how much does tourism contribute to Belize’s economy? Let’s dive into the numbers.
Overview of Tourism in Belize
Tourism is one of the main industries in Belize. According to the Belize Tourism Board, there were over 503,000 overnight visitors in 2019 alone. This number has been steadily increasing over the years, with a 6.7% increase from 2018 to 2019.
Direct Contribution
Tourism directly contributes to Belize’s economy through various channels such as accommodations, transportation, food and beverage services, and tour operators. In 2019, tourism directly contributed BZD $965 million (USD $482.5 million) to Belize’s GDP (Gross Domestic Product). This accounted for roughly 14% of the country’s total GDP.
Accommodations
Accommodations are one of the biggest contributors to tourism revenue in Belize. The country has a range of options from budget-friendly hostels to luxury resorts. In 2019, accommodations generated BZD $314 million (USD $157 million) in revenue.
Transportation
Transportation also plays a significant role in tourism revenue as visitors need a way to get around the country. This includes airfare as well as ground transportation such as taxis and rental cars. In 2019, transportation generated BZD $221 million (USD $110.5 million) in revenue.
Food and Beverage Services
Food and beverage services are another important contributor to tourism revenue as visitors need to eat during their stay. This includes restaurants, cafes, and bars. In 2019, food and beverage services generated BZD $166 million (USD $83 million) in revenue.
Tour Operators
Tour operators offer a variety of activities such as snorkeling, diving, and hiking to tourists. In 2019, tour operators generated BZD $142 million (USD $71 million) in revenue.
Indirect Contribution
Tourism also has an indirect contribution to Belize’s economy through the multiplier effect. This means that when tourists spend money in the country, it creates a ripple effect throughout the economy as that money is spent by locals on goods and services. In 2019, tourism indirectly contributed BZD $1.6 billion (USD $800 million) to Belize’s GDP.
Employment
Tourism also plays a significant role in employment in Belize. In 2019, tourism directly employed over 18,000 people which accounted for roughly 16% of total employment in the country.
Conclusion
In conclusion, tourism is a vital industry for Belize’s economy. It directly contributes to the country’s GDP through various channels such as accommodations, transportation, food and beverage services, and tour operators.
Additionally, it has an indirect contribution through the multiplier effect and plays a significant role in employment. As such, it is important for Belize to continue investing in its tourism industry to ensure its continued growth and success.