Belize's Income Mystery: Unveiling The Average Annual Earnings

Belize is an upper-middle-income country with an average annual income of 6,630 USD. The average salary in Belize is around 800 USD per month, though this varies greatly depending on profession, experience, location, skills, and gender. The most common salary is 14,157 BZD per year, while the average is 57,338 BZD per year. The minimum wage in Belize is BZ$3.30 per hour, or roughly 320 USD per month.

Average annual income in Belize: $6,630

The average annual income in Belize is $6,630, according to 2024 data. This figure is based on the country's gross national income (GNI) per capita, which is the total value of money received by Belize from both domestic and foreign sources, divided by the midyear population.

In comparison, the average salary in Belize is around $800 per month or $9,600 per year. However, it is important to note that salaries in Belize vary significantly depending on profession, experience, education, location, skills, and gender. The most paid careers are in hotels & tourism, with an average income of $182,224, and engineers & technicians, with an average income of $120,134.

Average monthly salary: $800

The average monthly salary in Belize is $800, which is around $9,600 per year. This is a fairly low average wage, and the minimum wage is even lower at $320 per month. However, salaries vary a lot depending on profession, experience, location, skills, and gender. For example, the average salary for someone in hotels and tourism is $182,224 per year, whereas the average salary for someone in sales in dress and shoe shops is $50,559 per year.

The average salary also differs between men and women. Men in Belize earn an average of $29,351 per year, whereas women earn $27,008 per year. This equates to men earning around 10% more than women across all professions.

Belize is considered a developing country due to its lower economic performance. With an average annual income of $6,630, it is considered an upper-middle-income country. The biggest economic sectors in Belize are tourism, agriculture, and the services industry.

Income by profession

The average salary in Belize is influenced by factors such as economic stability, the workforce's level of education, and the industries that drive its economy. The country's economy is primarily based on tourism, agriculture, and services, with each sector contributing differently to wage levels.

Hotels & Tourism

The hotel and tourism industry is one of the highest-paid sectors in Belize, with an average income of 182,224 BZD. This is likely due to the industry's significant contribution to the country's GDP and the competition for experienced workers.

Engineers & Technicians

Engineers and technicians also earn relatively high incomes, with an average salary of 120,134 BZD. This field requires specialized skills and knowledge, which likely contributes to the higher earnings in this sector.

Medical Professionals

Medical professionals, particularly doctors and specialists such as surgeons, anesthesiologists, and obstetricians, are among the top earners in Belize. The high level of training and critical nature of their work justify their higher salaries.

Legal Professionals

Experienced lawyers, especially those specializing in corporate or international law, command high salaries in Belize. Their expertise and reputation in the legal field contribute to their earning potential.

Financial Managers and Analysts

Professionals working in finance, particularly those in management positions or with expertise in investing and financial analysis, often have high earning potential. Their skills in managing and growing financial assets are valued in the Belizean economy.

It is worth noting that salaries in Belize can vary greatly depending on factors such as experience, qualifications, and the specific industry. Additionally, the average salary reflects both the formal and informal job sectors, and expatriates may earn higher incomes due to their specialized skill sets.

Income by gender

Delving further into the data, the average salary for men in Belize is 59,662 BZD per year, whereas women earn a lower salary of 54,808 BZD. The most common salary for men is higher than that of women, with men typically earning 14,157 BZD compared to 10,100-20,199 BZD for women.

The discrepancy in pay between genders is a pervasive issue in many professions globally, and Belize is no exception. Despite awareness of the need for pay equality, men continue to earn more than women in similar roles.

It is worth noting that salaries in Belize vary significantly depending on factors such as profession, experience, education, and location. The distribution of salaries in Belize spans a wide range, from a minimum of 12,180 BZD to a maximum of 209,700 BZD on average. The median salary, which sits at 47,180 BZD, serves as a useful indicator, with half of the population earning more and the other half earning less than this amount.

Income by education

Education is a significant factor in determining income levels in Belize. The level of education and specialised skills an individual possesses can impact their earning potential and the types of opportunities available to them.

According to one source, the highest-paid individuals in Belize have a doctorate degree, with an average salary of 115,078 BZD per year. Those with a high school education or below earn significantly less, with an average salary of 96,876 BZD per year.

However, it is worth noting that the specific career path chosen also plays a role in income levels. For example, employees with a bachelor's degree can expect to earn 25% more than those with a certificate or diploma, but this may vary depending on the field of study and the demand for specific skills in the job market.

Overall, Belize's income levels are influenced by various factors, including economic stability, the prevailing industries, and the level of education of the workforce. As a developing country, Belize offers a range of salaries across different sectors, and understanding these factors is essential for both employers and employees when determining fair compensation.

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