2014 Was A Phenomenal Year for Belize Tourism
No matter how you measure it, 2014 was a banner year for tourism in Belize.
The tiny Central American nation (population 332,000) welcomed more than 300,000 overnight visitors in 2014 and, for the third time in nine years, hit the one million mark for total visitors.
That Belize hit the one million visitor milestone isn’t necessarily surprising in itself, as tourism in Belize has been growing steadily for more than a decade. Hitting that mark in October rather than December, though, was a nice surprise for those with investments in Belize’s tourism sector.
Belize’s 2014 tourist arrival count hit one million in October, spurred on by a 6.7% year-over-year increase in overnight arrivals during a month that had been projected to see a nearly 11% drop. Belize also received nearly 2,000 more cruise arrivals in October than projected.
Belize began 2014 with double-digit increases in arrivals, which showed no signs of slowing even two months past the peak tourist season. (By comparison, global growth trends were around 4%, if any.)
When the sun finally went down on December 31, 2014, Belize had received a total of 321,220 overnight visitors, a 9.2% increase over 2013. Air arrivals were up 7%, and the month with the highest number of arrivals, March, saw an 8.1% increase.
The time is right for tourism investment in Belize
All signs point to a tourism industry in Belize that is growing steadily with no signs of slowing.
The Government of Belize continues to pledge its commitment to “entrench tourism as a top national priority,” and Belize is committed to high-value, low-impact tourism development. It’s not hard to see why.
Tourism represents approximately 28% of Belize’s GDP, equal to about USD $500 million annually. With overnight arrivals in Belize projected to double over the next two decades, those tourism revenues are projected to climb to USD $1.3 billion.
Are you ready to make your mark in Belize’s tourism sector and start profiting from this rising tourism superstar? Learn more about Casa Bay’s resort development real estate opportunity in Belize.