Belize is a small country located in Central America, known for its stunning beaches, vibrant culture, and Mayan ruins. But how does the cost of living in Belize compare to other countries? In this article, we will answer this question and provide a breakdown of costs for singles, couples, and families of four in Belize.
Local Currency in Belize
The official currency of Belize is the Belize dollar (BZD). While US dollars are widely accepted in many tourist areas, it is recommended to have some local currency for smaller purchases. ATMs are widely available throughout the country, and major credit cards are also accepted in many businesses.
Cost of Living in Belize vs UK and USA
The cost of living in Belize is generally lower than that of the UK and the USA. According to Numbeo, a website that provides information on the cost of living in countries around the world, the cost of living in Belize is 43.62% lower than in the UK and 49.02% lower than in the USA. This means that it is generally more affordable to live in Belize than in either of these countries.
Breakdown of Costs in Belize
To provide a more detailed understanding of the cost of living in Belize, we will break down costs for singles, couples, and families of four in the following categories: housing, food, utilities, leisure, transport, clothing, and household goods. All costs are approximate and based on current prices as of 2023.
The cost of housing in Belize can vary widely depending on the location and size of the property. According to Numbeo, the average monthly rent for a one-bedroom apartment in the city center is BZD 800-1,200, while a three-bedroom apartment in the same location can cost BZD 1,500-2,500 per month. For those looking to buy property in Belize, the average cost per square meter in the city center is BZD 3,000-4,500.
The cost of food in Belize can be relatively affordable. A loaf of bread costs approximately BZD 2, a liter of milk is around BZD 2.50, and a dozen eggs cost BZD 4. A meal for two in a mid-range restaurant can cost between BZD 50 and BZD 80. Grocery prices can be higher in more touristy areas.
Utilities such as electricity, water, and gas can be relatively affordable in Belize. The average monthly cost for these services is around BZD 200-300. Internet and mobile phone plans are also relatively affordable, with unlimited internet plans starting at around BZD 50 per month.
Belize is known for its outdoor activities, such as snorkeling, scuba diving, and exploring ancient Mayan ruins. The cost of leisure pursuits in the country can vary depending on the activity. A visit to a museum or national park can cost between BZD 5 and BZD 25, while a day trip to a nearby island can cost BZD 100-150 per person.
The cost of transportation in Belize can vary depending on the mode of transportation. A liter of gasoline costs around BZD 4.50, and a monthly public transportation pass is around BZD 40-50. Taxis are also available, with an initial charge of BZD 3 and a cost of around BZD 2 per kilometer.
The cost of clothing in Belize can vary widely depending on the type of clothing and the location. High-end fashion brands can be relatively expensive, while other clothing items can be more affordable . A pair of jeans costs around BZD 60, while a business suit can cost between BZD 200 and BZD 500.
The cost of household goods in Belize can vary widely depending on the type of goods. A basic set of furniture for a one-bedroom apartment can cost around BZD 2,500-5,000, while a washing machine costs approximately BZD 1,000-1,500. Electronics such as televisions and laptops can also be relatively expensive in Belize due to import taxes.
Forms of Payment in Belize
The most common forms of payment in Belize are cash and credit/debit cards. The Belize dollar is widely accepted, and US dollars are also accepted in many businesses. However, it is recommended to carry some local currency as some smaller businesses may not accept foreign currency. ATMs are widely available throughout the country, and currency exchange services are also available.
The cost of living in Belize is generally lower than that of the UK and the USA, making it a more affordable option for those looking to live in Central America. The cost of housing, utilities, and transportation can be relatively affordable, while food and leisure activities are generally affordable. Cash and credit/debit cards are the most common forms of payment, and the Belize dollar is widely accepted. As with any country, the cost of living in Belize can vary widely depending on individual circumstances and lifestyle choices. However, for those looking for a laid-back lifestyle with access to stunning natural beauty, Belize can be an attractive option.