Tourism growth.Belize's tourism market is now the country's second best money-earner. Developing ecotourism e·co·tour·ism n. Tourism involving travel to areas of natural or ecological interest, typically under the guidance of a naturalist, for the purpose of observing wildlife and learning about the environment. now equates to 18% of the country's income, reports Caribbean Net News (Oct. 31, 2007): Belize boasts the second largest barrier reef barrier reef n. A long, narrow ridge of coral or rock parallel to and relatively near a coastline, separated from the coastline by a lagoon too deep for coral growth. in the world, Mayan ruins, and jungles home to many endangered species endangered species, any plant or animal species whose ability to survive and reproduce has been jeopardized by human activities. In 1999 the U.S. government, in accordance with the U.S. such as the Manatee manatee: see sirenian. manatee Any of three species (family Trichechidae) of slow-moving, shallow-water herbivorous mammals. Manatees have a tapered body ending in a rounded flipper, no hind flippers, and foreflippers near the head. and Jaguar. The barrier reef protects over 386 Km of coastline and two thirds of the country is covered in bio-diverse, rich forests. The young, growing population of Belize stands at 300,000, still a relatively small nation; Property prices are rising steadily, but remain affordable. Property reports show a 15% annual increase in urban areas and a 30% along coastal areas. Belize also lends itself to a retirement market due to zero capital gains tax and inheritance tax inheritance tax, assessment made on the portion of an estate received by an individual; it differs from an estate tax, which is a tax levied on an entire estate before it is distributed to individuals. , and extremely low property tax at 1% of the market value. The growth in tourism means that the demand for rental properties is rising; local agents estimate rental yields ranging from 4% to 9% with an income tax rate of only 1.75%; Government has also put in place incentives for local and foreign developers with emphasis on resorts, infrastructure and tourism services. Property investment prices vary. A small house in a rural community would cost from US$5,000, and a village home about US$15,000. But a villa in a luxury beach resort could cost in excess of US$500,000. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion