Belize has tourism and agriculture as the two major industries. Therefore, most businesses in Belize are concentrated in these two industries. Fishing and the sugarcane industry are mostly reserved for the natives. On the other hand, most of the larger businesses in the tourism sector are mostly owned by non nationals such as the luxurious hotels. Other industries are basically under developed or simply underutilized thus the country provides a great opportunity for investment.
As a tourist destination, it attracts lots of tourists thus there are numerous investments in this particular sector.The tourism sector has been significantly boosted in recent days by the many tourist flocking the country.Most enterprises have invested in this line in a bid to cater for the growing demand.Resorts, villas and hostels have also been established to offer accommodation services. In San Pedro, along the beach, professional services are offered by lots of hotels and resorts.
The agricultural sector has provided numerous business opportunities. With so much land, the country produces crops such as citrus, rice and bananas. Papaya and chocolate have in recent days been exported to countries like the US. The greatest portion of this produce is however sold in the local market. Grocery stores such as the Rojo market and the Mata Grande Grocery are major retail centers for these products especially for tourist visiting the country. The agricultural sector though still holds so much more potential with vast pieces of land still remaining underutilized.
Other industries are also growing and emerging rapidly. Such industries include the call centre industry as well as the entertainment sector and are emerging opportunities to carry out business.
Business enterprises have also been established in the transport sector. The novel brothers own of the largest transport companies in Belize City offering transport services in major districts of the country. The company remains the major monopoly in Belizean transportation. Other small companies that are owned by small investors operate in other routes of the country.
In the telecommunication sector, there are two dominant players: Belize Telemedia and Speednet communications limited. Telemedia, which is bigger, is an employer of hundreds of Belizeans. The government owns a part of it. Speednet has been operational since 2003, when it was formed.
The media industry has attracted many private investors with most radio and television stations being privately owned. These stations air not only America and Caribbean programs but also those that are locally produced further promoting the film industry. Newspaper business is also firmly in the hands of individuals such as the Amandala newspaper.
The financial sector is also quite stable with eight institutions. Four of these are local and the other four are international. The two main ones are the British Caribbean bank and the central bank of Belize. These institutions provide services such as loans, lines of credit and bank overdrafts. Such services are of importance to the businesses.
Most business enterprises are small and micro businesses and account for up to ninety percent of all the businesses in the country. In fact many businesses are owned by families or close relatives. It is a common phenomenon to see businesses, especially in tourist destinations, owned and under the management of non national couples. This has provided a great opportunity for small private investors such as retirees to venture into.
As a tourist destination, it attracts lots of tourists thus there are numerous investments in this particular sector.The tourism sector has been significantly boosted in recent days by the many tourist flocking the country.Most enterprises have invested in this line in a bid to cater for the growing demand.Resorts, villas and hostels have also been established to offer accommodation services. In San Pedro, along the beach, professional services are offered by lots of hotels and resorts.
The agricultural sector has provided numerous business opportunities. With so much land, the country produces crops such as citrus, rice and bananas. Papaya and chocolate have in recent days been exported to countries like the US. The greatest portion of this produce is however sold in the local market. Grocery stores such as the Rojo market and the Mata Grande Grocery are major retail centers for these products especially for tourist visiting the country. The agricultural sector though still holds so much more potential with vast pieces of land still remaining underutilized.
Other industries are also growing and emerging rapidly. Such industries include the call centre industry as well as the entertainment sector and are emerging opportunities to carry out business.
Business enterprises have also been established in the transport sector. The novel brothers own of the largest transport companies in Belize City offering transport services in major districts of the country. The company remains the major monopoly in Belizean transportation. Other small companies that are owned by small investors operate in other routes of the country.
In the telecommunication sector, there are two dominant players: Belize Telemedia and Speednet communications limited. Telemedia, which is bigger, is an employer of hundreds of Belizeans. The government owns a part of it. Speednet has been operational since 2003, when it was formed.
The media industry has attracted many private investors with most radio and television stations being privately owned. These stations air not only America and Caribbean programs but also those that are locally produced further promoting the film industry. Newspaper business is also firmly in the hands of individuals such as the Amandala newspaper.
The financial sector is also quite stable with eight institutions. Four of these are local and the other four are international. The two main ones are the British Caribbean bank and the central bank of Belize. These institutions provide services such as loans, lines of credit and bank overdrafts. Such services are of importance to the businesses.
Most business enterprises are small and micro businesses and account for up to ninety percent of all the businesses in the country. In fact many businesses are owned by families or close relatives. It is a common phenomenon to see businesses, especially in tourist destinations, owned and under the management of non national couples. This has provided a great opportunity for small private investors such as retirees to venture into.
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