This island is the most popular tourist retreat in Belize. In the recent past, it has been frequented by scuba divers, fishers, and water sports enthusiasts. But the tides are shifting.
Most importantly, you’ll find a steady stream of Baby Boomers visiting. They’re searching for the perfect place to retire to or escape to for part-time living. They are privacy-seeking individuals attracted by the island’s natural beauty, easy residency, and lively community.
And, they also have noted the advantages of the outstanding offshore banking, international corporation business structures, and trusts offered in Belize.
A couple can live well in this city for less than US$2,000 per month.
The currency in Belize is the Belize dollar.
Ambergris Caye is the most popular and well-known part of Belize. Although part of Belize, this is a colorful Caribbean island in look and feel. So, it is not surprising that the cost of living on Ambergris Caye is not cheap––by Belizean standards, but those who live here are happy to pay a bit more than what we would pay to live on the mainland… It is, after all, an island paradise surrounded by the stunning Caribbean Sea.
Every day residents relish the sight of the waves breaking offshore on the world’s second largest barrier reef. Plus, there is a wonderful, active community on the island.
A major cost here is that associated with either buying or renting a home or condominium. So that is the first thing to evaluate.
Property values on the island are pricey due to the value of land near the Caribbean Sea and barrier reef. But when compared to other Caribbean islands, the costs of properties on this island are quite reasonable.
The great deals get snapped up quickly. Word of mouth is the best way to find an exceptional deal.
Your cost of living on this island and the cost of living in Belize in general, will depend on the lifestyle you choose, and how well you adapt.
There is a real cost associated with shipping goods from the mainland to the island. The cost of living on Ambergris Caye, in general, is higher due to tourism and the fact that there are more tourists and expats here than in other parts of the country. But there are ways to cut the cost of daily living if you pay attention and are a careful shopper.
You’ll find that some items are much less expensive than in North America. For instance, you can design your own furniture and have it made from lovely Belizean hardwoods, such as mahogany, cabbage wood or poisonwood.
It will cost about the same as a factory bought furniture in the USA or Canada, but you will have a handmade product built to your specifications.
You can also get by with a bike if you live near San Pedro Town. If you live further out, a golf cart will suffice. Even though golf carts aren’t cheap, the cost of fuel and insurance are negligible compared to what you’ll spend on the mainland or in North America. (Expats cannot bring a car onto the island unless they have a business that needs it.)
Choosing carefully where you spend money will allow you to spend quite a bit at nice restaurants, bar hopping, travel, and imported foods. There are certain foods here that are very reasonably priced.
Many islanders have made beans a staple. They are cheap and wholesome. Fresh fish can be bought at the dock for about US$3.50 per pound.
Expats regularly eat street food, which is good. You can even find tasty chicken taco from a street vendor for as little as US$2.
Liquors and wine prices vary significantly. A bottle of local beer or rum is very reasonable.
But, if you are craving a good gin and tonic, you could spend about US$45 for a decent bottle of Tanqueray gin… Same deal for Jose Cuervo tequila.
Many expats wait for boat trips to Chetumal, where you can buy the same bottle of Tequila for less than US$20. You can also wait and buy gin when returning through Belize’s duty-free store at the International Airport. A bottle of Beefeaters or Tanqueray gin sells for about US$20 there.
On the island, it isn’t uncommon to eat out several times a week and visit Wine de Vine to socialize on Friday nights. Splurge on nice wines, typically running between US$20 to US$25 per bottle.
Here’s an idea of what your monthly budget on Ambergris Caye could look like…
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