Living in Belize

What is the average cost of living in Belize?

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.

Once you look at these economic indicators you should try and combine them to see the overall picture that they represent and how that will affect your lifestyle if you plan to move to Belize and/or financially invest in Belize.  

Recently Added Belize Articles


Avg. Cost for Consumers
The answer to this question will give you an indication on how expensive it will be for you to live or retire in Belize. On average consumer products in Belize cost less than in many western countries? This is because the average cost of living in Belize is...

Continue reading on Avg. Cost for Consumers

 


Moving to Belize Guide | privacy | terms of use | contact us | about us | site map