There are a number of reasons expats love Belize as a retirement destination. This small Caribbean nation (population roughly 370,048) has seen a steady growth of new expat arrivals with about 1,600 more expected by the end of 2016.
Even with all of the positive aspects of moving to Belize, this tropical destination may not be ideal for everyone. Like every expat destination, it has its pros and cons. It’s important to weigh them carefully, in light of your own personal priorities, in order to decide if Belize is right for you.
Walter Rodriguez
Why Expats Love Belize
Expats love Belize because of several unique characteristics that have become the hallmark of this former British colony. The top reasons for this rise in popularity are listed below:
The Importance of Language
For many retirees and potential expats, a major concern is how to get along in a foreign country where English is not the primary language. Belize is the perfect choice for those who are not comfortable with Spanish.
English is the principal language in the country, both in day-to-day and, even more importantly, in all official and governmental transactions. Being able to easily communicate with native Belizeans in business and social settings makes for an easy adjustment.
Money Conversion Is Not a Problem
Belize does have its own currency, the Belizean dollar (BZD). However, the U.S. dollar is widely accepted for personal and commercial business. For those rare instances when local currency is needed, the conversion rate is simple to calculate: 2 BZD=1 U.S. dollar.
Location, Location, Location
When people retire, one of the major drawbacks that can keep them from following their tropical dream is the distance from family and friends. The announcement that you are moving out of the country can often be met with resistance and disapproval from those close to you who are concerned about keeping in contact.
One of the biggest reasons that expats love Belize is how close it is to the U.S. With a variety of regularly scheduled flights to and from Phillip Goldson International Airport, located in Belize City, staying connected to loved ones is convenient and inexpensive.
Eric Camm
Home Sweet Home
Foreigners can hold real property in their own name in Belize. Ever since the abolition of the Alien Landholding Act in 2001, there are no requirements, special licenses, or permits required for non-residents to own their own home.
What’s more, it is far easier to purchase beachfront property in Belize than in most other countries in the Latin Tropics. For those looking for an investment possibility, owning an oceanfront parcel can result in a good return on the initial cash outlay. With a growing list of properties on the market, finding your ideal home in paradise may be just a mouse click away.
People and Places
With so many Belizeans having U.S. connections, it is not surprising that new arrivals are welcomed as neighbors and new residents. Entry into the country is especially easy for citizens of North American countries or the U.K. who do not need visas for entry.
The variety of opportunities to explore and enjoy all that this country offers is yet another reason why expats love Belize. From the ancient Mayan ruins at Altun Ha, Caracol, and Lamanai, to the natural wonders of Belize Barrier Reef, the second largest in the world, to the mysterious Blue Hole, Belize combines culture and adventure with a laid-back tropical vibe.
The Two Things Expat Hate About Belize
While there are lots of reasons why expats love Belize, there are two major factors that many expats hate about their move to Belize. By looking at these negative aspects, you are in a better position to decide whether this is a move that you want to undertake.
anoldent
Time Is Relative
As is the case with many countries in the Latin Tropics, the importance of time is dramatically different than what most North Americans are used to. Expecting things – such as repairs or governmental functions – to be completed at the same rate as they would be “back home” can lead to a great deal of frustration and angst.
Ironically, one of the elements that can add to this sense of frustration is the natural desire to please that is a prominent feature of Belizean culture. Belizeans may say “maybe” or “possibly” instead of “no.” This kind of cultural difference is one of the biggest complaints many expats have expressed about their experience.
There’s Still Room for Improvement
There is so much in Belize that reminds expats of “home.” English is the spoken language. American television is watched by almost everyone. And in Belize City and other developed areas of the country, the modern amenities are similar to what you’d find in most U.S. cities.
However, the real downside of living here is that many items – especially big ticket items like appliances, electronics, and vehicles – are not readily accessible and, when they are, prices are much higher than one would expect back in the U.S. Even smaller items, like clothing, food products, and over-the-counter medicines can be a real challenge to find.
The combination of high import taxes, limited or no supply, and lack of major retail centers is another feature that many expats hate. They eventually learn to get by using locally-sourced products, but the adjustment period can be an issue for some.
Love or Hate It, Belize Is Worth a Closer Look
Everyone’s idea of retiring in a tropical paradise is different. Belize, with its positives and negatives, may or may not be the ideal place for the next phase of your life. Researching the country, visiting it, and being realistic about your own expectations is the best way to help you decide whether Belize is right for you.
There are a number of destinations that can be included in a list of the healthiest places in the Latin Tropics. The abundance of fresh foods, a more relaxed pace of daily living, and the tropical climate are just some of the features that have made the region a long-time favorite destination for retirees and other expats looking for a better quality of life.
This compelling combination has dramatically increased the interest of U.S. residents in finding alternative approaches to their current living arrangements. It is not just the locations themselves, but the qualities and opportunities that can be found there, that promise an overall healthier lifestyle – both on the physical and the emotional levels.
What Makes the Healthiest Places in the Latin Tropics Special
There are a number of qualities that the healthiest places in the Latin Tropics all seem to share. Below is a list of these factors that contribute to the wellbeing of locals and expats alike.
Fresh Fruits and Vegetables
Finding fresh produce in the tropics can be as easy as taking a short walk or drive to one of the countless roadside stands or weekly farmers’ markets that are a fixture of life in these countries. The wide variety of locally grown products is not only less expensive but makes it far more convenient to prepare meals from scratch – leading to another element that makes life in the tropics a healthy alternative: diet.
Geoff Baker
Healthier Diets
There is certainly a much smaller emphasis on pre-packaged or “fast” food in the Latin Tropics. As a result, more meals are prepared fresh, instead of out of a container or microwavable box.
Additionally, there is not as much emphasis on red meat in the region, the preferred protein sources being poultry or fish. These kinds of diets have been shown to be healthier in terms of reducing fat and cholesterol.
Better Climate
Having more sunlight, warmer temperatures and less extremes in climate (i.e., winter cold to summer heat in a short period) has shown to be more conducive to better health. Aside from the physical benefits of Vitamin D, the abundance of sunlight also helps combat Seasonal Affective Disorder.
Appropriately abbreviated as SAD, this type of depression brought on during the shorter periods of daylight during the winter months impacts roughly three million adults yearly. Given that daylight hours only vary about fifteen minutes during the seasons, life under the tropical sun is emotionally healthy as well as physically healthy.
Less Stressful Pace of Living
If there is one thing that is the hallmark of the Latin Tropics, it is the slower, more relaxed pace of life. The stress of facing crowded streets, time clocks, and the omnipresent “noise” of the 24/7/365 connected world is replaced by the far more tranquil natural rhythms of the ocean, tropical rain forests, and small villages.
While the slower pace of getting things done (such as repairs or building projects) can take some getting used to, the physical benefits are worth the extra time spent. It can truly be said that, in terms of daily living, you do without doing and it all gets done.
More Active Lifestyle
One of the most important features that all these locations share is a more active physical lifestyle. Warm weather is more conducive to outdoor activities that can range from merely walking to more strenuous forms such as swimming, surfing, and other sports.
The Top Five Healthiest Places in the Latin Tropics
Here is a list of the top five healthiest places in the Latin Tropics. While each one has its own unique characteristics, they all share qualities that make them desirable of destinations for those seeking to find their own personal “fountain of youth.”
Wikipedia
5. Volcán/Boquete, Panama
Located in the Chiriquí province of Panama, the Volcán/Boquete area boasts access to an abundance of fresh produce, herbs, and coffee and is known as the “breadbasket of Panama.” The moderate temperatures, low humidity (thanks to being 4000 feet above sea level), and a tranquil sense of wellbeing, all contribute to a more active lifestyle.
The region also can claim longer life spans for its residents than the rest of Panama. Boquete has been singled out by AARP magazine as one of the top places to retire in the entire world.
4. Playa Gigante, Nicaragua
This rustic fishing village on the Pacific coast of Nicaragua is rapidly becoming a mecca for a growing number of alternative health and yoga spas. With a very laid-back lifestyle, ready access to fresh fish and produce, and natural beauty of one of the country’s ecological centers, healthy living in Playa Gigante comes easily.
Jon Hurd
3. Lake Atitlán, Guatemala
Aside from its breathtaking vistas, Lake Atitlán, Guatemala is becoming recognized as a place for retirees seeking a healthier lifestyle. With some of the best weather anywhere, the rich Mayan culture (still very much in existence), abundant fresh produce, and a variety of outdoor activities to enjoy, Lake Atitlán’s popularity as both a tourist destination and a retirement location continues to grow.
Presidencia de la República del Ecuador
2. Vilcabamba, Ecuador
It may come as a surprise to many that Vilcabamba, Ecuador is included in this list. Located in what is has become known as the “Valley of Longevity,” local residents claim to reach life expectancies well past 100 years.
While there is no hard evidence to support this claim, the mild climate, abundant fresh air (no pollution), low animal fat diets, and active lifestyle certainly are positive factors for healthier living. The natural beauty and relaxed pace of life in the valley also contribute to the growth of Vilcabamba as a top retirement destination.
Carlos Adampol Galindo
1. Nicoya Peninsula/Nosara, Costa Rica
Featured in the book, The Blue Zones, the Nicoya Peninsula – and Nosara in particular – has become the best known of top healthy places in the Latin Tropics. The ready access to fresh produce and seafood combined with a more relaxed outdoor lifestyle has created an environment where longer life spans are the rule, not the exception.
Healthier diets and more physical activity seem to be only part of Nosara’s secret. The growing number of alternative therapies, such as meditation and yoga, create an atmosphere where life can be embraced as opposed to just being lived.
Finding That Longer, Healthier Life Path in Paradise
Visiting the locations mentioned above (or others in the region) could be the first step to discovering what the healthiest places in the Latin Tropics could offer as a lifestyle choice. Learning where and what resonates with you is a great place to begin your quest for a healthier, happier existence.
The beaches of Ecuador are some of the best kept secrets in the Latin Tropics. These oceanside destinations are rapidly gaining the attention of expats looking for a life filled with sun, sand, and water as well as foreign investors who are recognizing the potential for strong returns on investment in these communities.
Sprinkled along Ecuador’s Emerald Coast, each of these locations has a unique character that ranges from vibrant party and surfing towns to more sedate, higher end resort communities. The five locations listed below can truly be said to be the gems of Esmeralda.
What Makes Ecuador Beaches Special?
What makes the top beaches of Ecuador special is the fact that they aren’t as well known as other beach communities in the Latin Tropics. In a real sense, expats have the opportunity to explore and discover new and exciting locations that they may not have been previously aware of.
What follows, in no particular order, is a list of the best of these seaside destinations.
Rinaldo Wurglitsch
Salinas/La Libertad/Ballenita
Perhaps the best known beach town in Ecuador, Salinas offers the high-rise modern lifestyle that many expats enjoy. The combination of modern amenities, combined with a wide variety of outdoor activities, and great weather, have made Salinas the “go-to” spot for foreigners and expats alike.
Whale watching, surfing, parasailing, and even skydiving as well as a vibrant nightlife are just some of the many activities that Salinas offers. For those seeking more tranquil alternatives, the nearby thermal baths and spas are a powerful draw.
For those looking for something a little less crowded, nearby Libertad is a commercial hub that is working to build up its beachfront as well as the pier areas to make it more attractive. For those looking for single family homes, the quiet community of Ballenita has some outstanding bargains for ownership and/or investment.
Jorge Luis Perez
Olón/Montañita
Montañita has long had the reputation for being the most lively beach town in Ecuador. Native Ecuadorians travel here to enjoy the surf and the party atmosphere – particularly during high season (January to April).
The nearby community of Olón has a growing expat population and is far more serene than its more boisterous neighbor. With stunning beach vistas all its own, living in Olón offers the best of both worlds–a quiet home close to a bustling and energetic entertainment center.
Canoa/Bahía de Caráquez
Two of the most up and coming beach towns in Ecuador are Canoa and Bahia de Caráquez. Canoa is a small village favored by surfers and backpackers but rapidly expanding into a more dynamic tourist and expat destination.
Bahia, just a short distance away, has grown into a mecca for expats looking for high-rise living. Being located on a peninsula between the Rio Chrone and the Pacific Ocean, Bahia has also become a favorite port-of-call for world-class yachtsmen (and women) from around the globe.
This dynamic combination promises to increase property values and development. The modern infrastructure makes it especially attractive to retirees and investors desiring tropical charm with the promise of a good return on initial outlay of investment funds.
Ronald Saunders
Crucita
Crucita has been favorably compared to Jaco, Costa Rica. Like Jaco, Crucita first gained attention as a destination for adrenaline junkies – in this case paragliding and hang gliding, while Jaco focused on surfing.
This has lead to a growing expat community and a continually improving and developing infrastructure. Crucita’s location, close to both Manta and Portoviejo, makes it an ideal spot to access the benefits of major urban centers while still be removed from the more frantic pace of those cities.
While Crucita continues to grow, it still retains much of its small, fishing village vibe. This quality is what is luring many retirees and expats who want a quieter pace but still within easy distance of larger expat communities.
Mompiche
At the opposite end of the scale from high-energy locations like Montañita and Salinas, is the quiet fishing village of Mompiche. It is the most rustic place on the list and is a perfect destination for those looking to disconnect from the 24/7/365 world and just enjoy the tranquility of living by the ocean.
Owning a Part of the Top Hidden Beaches of Ecuador
The allure of these Ecuadorian destinations has increased the interest level of those seeking a tropical destination close to the ocean. The real estate market, while still feeling effects of the 2008 recession, has a number of real jewels that can be had for a surprising affordable price.
A prime example of what you can find in these ocean side communities is this new 2 bedroom, 2 bath house overlooking the ocean for $85,000. Located in Ballenita, it could be the perfect seaside retreat or investment property in a growing area.
Some Beach, Somewhere
As can be seen from the above list, the top beaches of Ecuador provide a range of opportunities from rustic to high-end modern. Exploring them for yourself is the best way to find the sun and sand location that is right for you.
Jesse Bayer
The History
Measured by nearly any economic or social metric, Ecuador enjoyed a sustained boom between 2000-2014.
However this was a relatively new phenomenon for the small South American country. With the approximate landmass of Colorado and a population of just over 16M, Ecuador has experienced tremendous change over the last 30+ years.
As a result of popular revolts against government corruption and mismanagement, Ecuador saw seven different Presidents take office between 1992 and 2007 – there was even a brief time in 1997 where three different individuals claimed to be president of the country simultaneously!
Dollarization following the collapse of the Sucre in 2000 marked the beginning of stability and greater prosperity.
According to The World Bank, GDP rose from $18.3B in 2000 to over $100B in 2014 with the poverty rate dropping from 64.4% to 22.5% over the same period. Population growth, life expectancy and crime rates saw similar positive trends.
For those who understand the mechanics of money creation and that asset prices are inextricably levered to The Money Supply, it will come as no surprise that according to tradingeconomics.com, Ecuador’s M2 Money Supply also increased – from $11.79B in 2007 to approximately $40B in 2015.
According to the same source, consumer credit expanded at a similar rate, rising from $4.9B in 2007 to approximately $16.5B at the end of 2014.
This boom, partly fueled by the increase in money supply and a credit expansion, also coincided with, and was driven by, several larger trends taking place at the national level.
With Rafael Correa’s election in 2007, corruption began to decline and government spending, largely on infrastructure, began to increase.
According to Trading Economics, government spending increased from approximately $368M in 2000 to $2.5B in 2015.
This meant that ports, airports, roads, healthcare, drinking water, sewers, electricity, education, police, and fire were brought up to international standards.
According to a recent survey, conducted by the InterAmerican Federation of Construction Industries as part of the Global Competitiveness Report for 2014-2015, Ecuador ranks fourth in quality of infrastructure in Latin America.
Much of this expenditure was funded by oil revenue. Starting in early 2004, oil prices began to steadily rise, giving OPEC member Ecuador a steady source of capital to finance spending. Oil revenue accounted for as much as 40% of all Government revenue during the strong run for oil prices between Q1 2004 and Q4 2014.
Jesse Bayer
Where Things Stand Today
A confluence of challenging economic factors hit Ecuador towards the beginning of 2015 that have affected the country greatly and play a big role in the country’s outlook going forward.
Oil prices began to plunge beginning in June/July 2014 and, while they’ve bounced off their lows, have yet to recover to post-2004 levels.
In addition, a strengthening dollar has hurt exports.
At the same time, early 2015 marked the end of a credit and construction cycle – credit began to tighten and construction slowed.
These factors led to budget cuts and a soft job market.
To make matters worse, President Correa in May 2014 announced plans to increase the capital gains and inheritance taxes to levels that caused some amount of capital flight. The proposals have yet to be enacted and it is unclear if they will, but the damage was done.
As a result of these factors, GDP was essentially flat in 2015 and is expected to be negative in 2016.
The government’s response to these headwinds has been to raise taxes and seek external sources of funding in the form of debt.
Rising tax revenue, along with recent loans from the IMF and China have served to cover budget shortfalls for now, but with the state continuing to grow and the environment becoming more difficult for the private sector, barring a significant rise in oil prices these are not sustainable solutions.
Jesse Bayer
What Does It All Mean?
Ecuador is an amazing country. The climate, variety and natural beauty of the landscape, amazing people, low cost of living, great infrastructure, and the quality of life attainable here are second to none.
As a place to live, it’s hard to beat.
Having relocated from New York City over three years ago, purchasing land, starting a project, and launching a business I couldn’t be happier with my decision.
However, as an entrepreneur/investor evaluating Ecuador, one must consider the pros and cons.
On the positive side there is tremendous opportunity. With only a decade plus of political and economic stability, Ecuador is a relatively new market. Many goods and services that would have significant demand have not yet been brought to market.
Tourism is seeing amazing growth. According to World Bank statistics, Ecuador saw 511,000 tourists visit in 1998. That number rose to 968,000 by 2009 and 1,557,000 in 2014.
In addition foreigners are moving here to live in increasing numbers. Ecuador consistently shows up at the top of publications ranking the best places to retire. While foreigners have settled in places like Cuenca, Banos, Cotacachi, Vilcabamba, Quito and several others on the coast like Manta and Montanita for several years, the rest of the country largely still has yet to be discovered internationally.
From this perspective, Ecuador is in the sweet spot – being a relatively new market, with incredibly attractive attributes such as a varied and amazing climate, great infrastructure, political/social stability, excellent safety, abundant natural resources with excellent tourist/expat growth –offering the right mix for successful investing.
The other side of the coin is the business climate. Current President Rafael Correa considers himself a socialist. He has taken a considerably anti-business, anti-wealth stance as born out by his tax and regulatory policy.
The World Economic Forums Global Competitive Index for 2015-2016 ranks Ecuador 76th out of 140 Nations and 9th in Latin America.
Steep import taxes, a 14% Value Added Tax, inheritance taxes, a 22% corporate tax rate, 35% personal income tax, and a myriad of burdensome rules and regulations have made it more difficult to succeed as an entrepreneur/investor.
Asset prices have of course been affected by the economic situation. Capital has become scarce.
This is an interesting development for real estate as Ecuador, in addition to being such an attractive place to settle, is home to some of the most fertile and resource rich land in the world.
As real estate prices have begun to decline, an already comparatively inexpensive asset has become cheaper.
In addition, investment opportunities for those with capital are more plentiful with potentially better returns as business owners and entrepreneurs have to turn to private financing.
With national elections coming up in 2017, it is unclear what direction Ecuador will take.
With another decade of rule ideologically aligned with that of Rafael Correa, a future like that of Venezuela is not impossible to imagine. However, with a little less spending/borrowing and less controls on business it’s easy to see how Ecuador could capitalize on its amazing potential and insert itself into the conversation as one of the best opportunities in the world.
This article was written by Jesse Bayer. Jesse sold his real estate holdings in New York City and left for Ecuador with his family and business partner in July 2013. Since then Jesse has begun a large-scale development project and co-founded Abundant Living Ecuador, a real estate and relocation services firm based out of Loja. You can contact Jesse on our contact form.
For many expats, the decision to go south comes down to a simple question: Will moving to Costa Rica make you happier? The answer, as those who have chosen the “pure life” would tell you, is YES! It probably will.
The reason, in a nutshell, is that Costa Rica is one of those places where a number of factors come together to make a happier, healthier style of life. There have even been a number of studies that have actually examined what makes living in this tropical paradise a more positive experience than other locations.
Vytautas Serys
What Makes Moving to Costa Rica the Happier Choice?
There are several reasons that moving to Costa Rica can foster a happier and healthier life. Several of the major factors are listed below:
Pura Vida Is More Than Just a Catchphrase
As anyone who has ever visited Costa Rica will tell you, the phrase “pura vida” is an almost universal greeting – both among locals as well as expats. This greeting, which translates as “pure life,” is more than just words. It’s a whole philosophy.
This idea that choosing the path of happiness regardless of your current circumstances is apparent everywhere in the country. It has come to symbolize the idea of simply enjoying life and all the potential that tomorrow may bring.
This attitude certainly seems to contribute to the health and longevity of both “ticos” (native Costa Ricans) and expats. Embracing pura vida is a major reason for the overall feeling of happiness of living in this tropical paradise.
Kurt Bauschardt
Being Closer to Nature
Costa Rica’s commitment towards the environment also impacts how happy people are. Being closer to nature on a daily basis certainly provides a less stressful, more serene state of mind than confronting the controlled chaos of all that is modern living in most major metropolitan areas.
In the World But Not of It
Costa Rica has not had a standing army since 1949. By not being bombarded by the 24/7/365 news cycle involving world conflicts, Costa Rica has become, literally, a tropical refuge in a very increasingly uncertain world.
The Science of Happiness Supports the Costa Rican Choice
A number of recent studies have actually been able to quantify the observation that moving to Costa Rica can make for a happier life. Below are two examples of the findings of these studies:
Happy Planet Index
The Happy Planet Index (HPI), computed by the New Economics Foundation, a UK think tank, is widely regarded as the leading source in measuring well-being on a global scale. For the third time since 2009, Costa Rica has risen to the number one spot out of the 151 countries evaluated.
HPI not only tracks happiness, but also how efficiently this is produced when measured against impact on the environment. Though having a GDP (gross domestic product) only a third of the size of the U.S., Costa Rica’s average life expectancy (79.1 years) and sense of well-being among residents showed that happiness does not have to be equated with wealth.
thejaan
The Science of Happiness
As part of a recent online course entitled The Science of Happiness, sponsored by UC Berkeley, 40,000 students from around the globe took part in a survey where they answered questions about their happiness levels based on a number of factors. The results of this project found that Costa Rica ranked as the number one happiest nation on earth.
Based on global subjective beliefs, separate from individual life-specific events, a list of 25 countries were ranked on a scale. Some of the elements included in the study were “satisfaction with life,” “flourishing” (life with a purpose), “loneliness,” and “stress.”
Costa Rica finished at the top in two categories and was number two in the least stressed countries on the list. While not the wealthiest country in the study, the land of Pura Vida clearly has some aesthetic qualities that quantitatively demonstrate that money can’t buy happiness.
fredsharples
Living in Paradise Is Still Possible
One of the major concerns for many potential expats is the availability (and cost) of housing. Fortunately, Costa Rica has a wide variety of options that range from rustic fincas (farms) to high-end condominiums and much in between.
As the country continues to develop its Southern Pacific and Caribbean zones, both in terms of infrastructure and accessibility, new housing options will continue to appear. Perhaps the best way to begin your search for your place in paradise is to visit the Land of Pura Vida, explore the various regions, and discover which area resonates with you.
Ultimately, finding a location that you want to call your forever home, nestled in a tropical paradise, is an important first step in embracing the happiness of moving to Costa Rica.
For example, a rustic 1 bdrm, 1.5 bath home on an acre of land in the highly desirable Nosara area is only $137, 000. Being able to live in one of the country’s Blue Zones would be a tremendous step towards a happier life.
So Is Moving to Costa Rica a Guarantee of Happiness?
Moving to Costa Rica can be the opportunity to transform your existence. However, life is not filled with absolutes or guarantees. No place on earth is perfect for everyone. Not to mention, what you get out of relocating to paradise largely depends on what you put into it in terms of outlook and openness.
If you think moving to Costa Rica could be the key to your happiness, it’s certainly worth a second look.