Tourism In Belize: Ensuring Sustained Growth

December 6, 2019

Preview Citation

Format: Chicago

Julian T Chow. Tourism In Belize: Ensuring Sustained Growth, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Belize’s tourism sector has witnessed impressive growth in recent years with overnight tourist arrivals registering double digit annual growth rates since 2016. To guide the development of the tourism sector from 2012 to 2030, the government endorsed a National Sustainable Tourism Master Plan in 2011, setting various initiatives and targets for the immediate and medium terms. Using a panel regression analysis on twelve Caribbean countries, this paper finds that accelerating structural reforms, fortifying governance frameworks, reducing crime, and mitigating the impact of natural disasters will help sustain tourism growth in Belize and contribute to economic well-being. This is in addition to tackling infrastructure bottlenecks and mitigating concerns relating to the “shared economy”.

Subject: Crime, Economic sectors, Education, Environment, Infrastructure, National accounts, Natural disasters, Tourism

Keywords: Belize, Caribbean, Central America, Cruise tourism expenditure, Infrastructure, Natural disasters, Sub, Tourism, Tourism Arrivals, Tourism competitiveness, Tourism destination, Tourism indicators performance, Tourism sector, Tourism value chain, WP

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2019/267
Stock No:

WPIEA2019267
ISBN:

9781513521268
ISSN:

1018-5941

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