Economic Indicators in Belize
The average cost of living in Belize is much
lower than the average cost of living in the United States or other
Western countries. In fact it is because the average cost of living
in
Belize is so favourable that many westerners
including Americans are moving to Belize.
One of the greatest things to consider in
calculating your cost of living in Belize is the lifestyle you plan
to live by. Do you plan to go to Belize and start a business? Do you
plan to retire and stay in luxury resorts? Or do you plan to
purchase real estate in Belize? The lifestyle you choose will
ultimately determine the cost of living in Belize for you. One
factor that will remain consistent is that the average cost of
living in Belize will be much lower than that in the United States.
To help you get a better idea on the cost of
living in Belize, you should first look at some common economic
indicators or financial figures. In Belize many factors make the
average cost of living more favourable to the United States. The GDP
per person in 2005 in Belize was 7,835 dollars according to the
International Monetary Fund. That put Belize in 83rd
place amongst countries of the world in terms of the GDP economic
indicator. The countries economy however grew rapidly in 2006 as the
per person GDP increased to $8,400 vaulting Belize into 76th
place in the world. This information can be thought of as a double
edged sword. On the good side the economy is growing and therefore
the overall standard of living is increasing for all people of
Belize but on the other side the cost of living will continue to
increase in the future making it less attractive to people on a
fixed income.
Now that you understand what the Belize’s
economic output is, you should consider what the average income in
Belize is. On a per capita basis the average income is around $6,500
US dollars. This means that the average Belizean lives on a very
modest income and as a new comer to the country you could also live
on such a modest income. However, that may not be your idea of
retirement and you may have money set aside so that you can live the
good life in Belize. You should take these considerations into
account when analyzing the average income in Belize figure stated
above.
