The outstanding archaeological sites of AltunHa,Caracol, Lamanai
andXunantunich bear witness to the rich history of Belize,whichmay
have been the heart of Mayan civilization between 250 and 900AD.
A visit to the palaces and temples set among
woods and jungles is an interesting change
from the busy physical activities provided by
sea and nature.
With so much pristine environment and
heritage, Belize is becoming a buzzword among
developers, but it prides itself on being amodel
of sustainable development. “Any investor that
comes here has to sign a compliance agreement
with the Department of the Environment to
ensure that they are not going to cause any
adverse effects,” Lourdes Smith of BELTRAIDE,
the Belize Trade and Investment Development
Service, points out. “That is one way to ensure
that investment is beingmadewisely.”
The hotel sector saw investment and
renovations to the tune of $33million in 2006,
generating an increaseof 9.2% in accommodation
revenues. New “tourist zones” in lesser developed areas are being
identified to complement the diversity of offer. “There is an increase in
the demand for Belize, and investments are being made to
accommodate that demand,”saysGodfreySmith.“Private condominiums
and retirement homes are appearing in less developed places such as
Ambergris Cay and southern Belize.”
“Real estate development in Belize has been growing tremendously,”
agrees Arnaldo Peña, Director of Belize Resort and Development Ltd.
“The environment and development, inmy opinion, go hand in hand to
strike a balance.We cannot allow the country to
remain in a pristine state as we need to stimulate
the economy, but we have to adhere to the
environmental laws of the country.”
PeñaboughtTurneffe IslandandGrandBogueCay,
where he plans to build an eco-resort.Half Moon
BaywithinGrandBogue showcases a5,000 ft long
beach linedwithpalmsanddreamlikedevelopment
possibilities.“I’vebeenvery fortunate tohaveprime
real estatewith the typeof development it offers,”
he says.“And Iwould like to see resorts that reflect
whatwe try topromote inBelize.”
Hotels, guest houses, condominium development
and time shares may profit from generous fiscal
incentives in the shape of duty free exemption.
Investors will also benefit from an upgrade to the
infrastructure including a $40million expansion of
theairport thatwill attractaircraft fromaround the
world. Improvement of port facilitieswill cater to the600,000 visitorswho
are arriving by cruise ship a year. “With increased investment inmarketing
and product development made by the public and private sectors as well
as foreign investors,Belizehas thepotential tobecomea leadingdestination
of choice,completewithworld-class serviceexcellence,and it canbecome
the country’s leading producing industry,”saysGodfrey Smith.
Advertising Feature
PrincessHotel &Casino
An aerial view of the Blue Hole, Lighthouse Reef Atoll
