Select Page

Belize Economy

The Belizean Dollar has a fixed rate of exchange (BZ$2 : US$). Of course, most tourist businesses will accept US dollars, credit cards or traveler’s checks. From 1986 – 1990 the Economy grew at ten percent with an average inflation rate of 2.8%. However, Belize was not immune to the economic downturn that affected the world wide economy in the early 90’s. Trade deficits grew in the mid-90’s as a result of low banana and sugar prices (half of exports now from sugar; banana industry is largest employer).[1]

Belize at the end of the 90’s saw the PUP return to power and the economic policies that followed encouraging foreign investment saw growth rise again to rates of four to five percent with consumer price deflation of almost one percent. Belize is focusing more attention on the tourist industry with an emphasis on attracting US visitors. The illicit drug trade played a negative factor in the 1980’s and early 90’s but has recently seen a decrease in the open or blatant practice of the trade.


[1] Lowtax.net, Belize-Country & Foreign Investment Regimes, available at http://www.lowtax.net/lowtax/html/jbzcfir.html#economy (last visited on Oct. 2, 2002).