Belize's overnight tourism sector is experiencing a remarkable resurgence in 2024, surpassing pre-pandemic levels. As of September 2024, total overnight tourist arrivals reached 23,262, a significant increase compared to the 19,645 arrivals recorded in September 2019. This positive trend is evident throughout the year, with several months registering record-breaking numbers.
February and March 2024 stand out as particularly strong months, each achieving all-time highs for overnight arrivals. This surge in visitors has undoubtedly benefited various businesses within the tourism sector, including hotels, restaurants, and tour operators.
While September 2024 showed a slight decline compared to the peak summer months, it still outperformed September 2019. This suggests that Belize is successfully attracting visitors year-round, not just during the traditional high season.
Accommodation Sector Performance
The overall growth in tourism is reflected in the performance of Belize's accommodation sector. Occupancy rates for the first eight months of 2024 have been robust, particularly for the top-tier properties.
For the Top 50 Accommodations category, these properties have consistently maintained occupancy rates above 60%, peaking at 77.6% in February.
In terms of the Top 100 Accommodations, this group also experienced strong occupancy, averaging around 60% throughout the year.
Interestingly, average room rates have also seen an increase in 2024. The Top 50 accommodations, for example, commanded an average room rate of $627.34 BZD in August, compared to $608.89 BZD in January. This indicates a willingness among travelers to pay premium prices for quality accommodations. The average room rate (ARR) is the average price paid for rooms sold during a specific period.
Revenue per available room (RevPAR), a key performance indicator for the hotel industry measures a hotel's revenue relative to the total number of available rooms, whether occupied or not., has also shown positive growth. The Top 50 accommodations generated a RevPAR of $378.04 BZD in August, highlighting the strong financial performance of these properties.
The data clearly demonstrates a positive trajectory for Belize's tourism industry in 2024. With continued efforts to enhance the visitor experience and promote sustainable tourism practices, Belize is well-positioned for continued growth in the coming months and years.
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