Belize, a destination of interest for Spanish tourism investment:
Belize is unknown in Spain. The commercial relationship is modest in figures and the investor almost non-existent. The Government of the smallest economy in Central America, whose engine is tourism, wants to reverse the situation and at FITUR has vindicated the opportunities it offers to hotel chains and airlines. And its potential, as a member of the ‘multi-destination’ projects of the Central American Tourism Promotion Agency (CATA), which brings together the seven countries in the area to jointly promote this sector as a growth lever, is unlimited.
The Central American country is an almost virgin destination for Spanish investment: in the last 10 years, it barely amounted to 5.6 million and aimed at real estate and financial services. According to the financial and business information newspaper Capital Madrid, global foreign direct investment (FDI) is low (between 141 and 160 million), with the main origin in the United States. However, Spain is one of the main European trading partners, after the United Kingdom.
“We have the greatest interest in attracting Spanish investment, mainly in tourism, and in collaborating with airlines to increase our connectivity. Spain is one of the four European countries that emit the most visitors to Belize and a market that interests us as a projection platform, “says Manuel Heredia, Minister of Tourism of Belize, a nation that has been growing at 2% and is located in the area Global average in ease of doing business.
As for sectors with potential, tourism is the great opportunity, especially for Spanish hotel and restaurant chains, very present in Latin America and the Caribbean, but absent in a place that offers niches of interest in Information and Communication Technologies. (TIC), agro-industry and renewable energy.
Although the pillars of the economy are sugar, banana and citrus exports and tourism, offshore and financial services activity has grown in recent years, as the country has become a modest oil exporter.