Key Demographics of Belize
BELIZE CITY, BELIZE (Image credit: Getty Images via @daylife)
For those considering development opportunities in Belize, it’s important to understand the country’s population. According to the CIA Fact Book, Belize’s population is estimated to be approximately 322,000. The country is a melting pot of many races and over the years the multi-racial make-up has risen through the influx of many people of Central America, Asia, Europe and the Caribbean.
Most Belizeans are of multiracial descent. About 49% of the population is of mixed Maya and European (Mestizo), 25% are Kriols, about 11% are Mayan, and about 6% are Afro-Amerindian (Garifuna). The remaining 9% of the population includes European, East Indian, Chinese, Middle Eastern, and North American groups. In the case of Europeans, most are descendants of Spanish and British settlers, whether pure-blooded or mixed with each other. Most Spanish left the nation just after it was taken by the British colonists who, in the same way, left after independence. Dutch and German Mennonites settled Belize, most in the isolated areas.
· 0-14 years: 36.8% (male 60,327/female 57,933)
· 15-64 years: 59.6% (male 96,886/female 94,605)
· 65 years and over: 3.5% (male 5,404/female 5,960)
· Median Age: 21 years
· Birthrate: 26.43 births/1,000 population (2011 est.)
· Growth rate: 2.056% (2011 est.)
Belize has one of the youngest demographic structures of any CALA country.
Population Distribution & Major Population Centers (2010 est.)
· Urban population: 52% of total population (2010)
· Rate of urbanization: 2.7% annual rate of change (2010-15 est.)
Major Cities
· Belize City, BZ: 70,800
· Orange Walk Town, OW: 18,000
· San Ignacio, CY: 17,000
· Belmopan, CY: 16,400
· Dangriga, SC: 12,000
Literacy and Languages
Definition: age 15 and over can read and write
· Total population: 76.9%
· Male: 76.7%
· Female: 77.1% (2000 census)
Definition: Speaks either “Very Well” or speaks “Some”
· English: 80%
· Spanish: 63%
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Geoffrey de Sibert is the Joint Executive Manager of Belize Agricultural Enterprises, an investment and development firm based on Soledad, California.
Understanding the Intricacies of a Modern Belzian Economy
An enlargeable map of Belize (Photo credit: Wikipedia)
Belize has a small, domestically focused economy that has experienced solid but unspectacular growth over the past twenty years thanks to strong population growth and the gradual development of its tourism sector, as well as a generally pro-business policy by both major political parties.
Belize benefits strongly from its historic links to the United Kingdom and the tradition of free market capitalism it inherited, as well as the corporate legal framework integral to the British Common Law system. Although once dominated by a small number of “colonial” corporate entities, Belize now has a remarkably open economy where major international investors have been able to acquire and control significant assets such as the major electricity and water utilities. Nonetheless it should be noted that shortly after gaining power in 2008, the Barrow administration re-nationalized Belize Telemedia Ltd. (the dominant telecom utility) in order to remove it from the control of British financier Michael Ashcroft, which the Barrow administration appeared to feel was playing too large a role in Belize’s economy as he also owned the country’s largest bank.
Belize’s 2010 GDP was estimated at USD 1.40 billion (official exchange rates) and USD 2.65 billion on a purchasing power parity basis. GDP grew at about a 4% compound rate from 1990-2008, although growth slowed considerably since then as a result of the global financial crisis. After remaining flat in 2009, it is estimated that Belize’s GDP grew by 2.0% in 2010, and is poised to return to trend-line growth of 3%-5% in 2011.
Belize’s 2010 GDP was categorized into three major sectors (CIA Fact Book):
· Agriculture: 22%
· Industry: 20%
· Services: 58%
Within the Services category, Tourism is estimated to represent less than 10% of GDP. 2010 Imports (All categories) totaled USD 647 million, with the main trading partners being the U.S. (34%) and Central America (21%). 2010 Exports (All categories) totaled USD 476 million, with the main trading partners being the U.S. (46%), the UK (26%), and the Central America/CARICOM region (17%)
Belize’s major crops in 2010, based on export values were:
· Orange Juice concentrate: USD 47.0 million
· Sugar & Molasses: USD 32.0 million
· Bananas: USD 36.0 million
USA Passport: Canada, Mexico, Belize, USA (Photo credit: dcgreer)
No specific data for the Tourism Sector are available from either the Central Bank of Belize or the Belize Central Statistical Office, but Tourism is estimated to generate in excess of USD 200 million in foreign currency revenues according to Central Bank of Belize statistics.
Belize exported an estimated 4,000 bbl./day of crude petroleum in 2009 and imported some 7,200 bbl./day of refined petroleum products. There are no crude oil refineries in Belize.
Belize’s labor force was estimated at 120,500 in 2007, of which 10.2% was employed in agriculture, 18.1% in industry and 71.7% in services.
2009 Unemployment was estimated at 13.1%.
Construction was estimated to represent 3.9% of GDP in 2008.
Coat of arms of Belize (Photo credit: Wikipedia)
According to the Ministry of Finance and the Central Bank of Belize, as of 12/31/2010 the Government of Belize had approximately 368 million Belize dollars of internal debt, mostly in the form of short term Treasury Bills (BZD 153 million) used by the Central Bank to regulate the domestic money supply and long term Treasury Notes (BZD 137 million) used for general government funding.
According to the Central Bank of Belize, external debt (12/2010) was USD 2.02 billion, of which US$1.113 billion was commercial debt and USD 905 million was intergovernmental/agency debt.
External commercial debt represents 80% of GDP at official rates, total external debt represents 144% of GDP and total government debt, internal and external, represents 151% of GDP.
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Geoffrey de Sibert is the Joint Executive Manager of Belize Agricultural Enterprises, an investment and development firm based on Soledad, California.
Chateau de Cornillion Chapel Expansion- Geoffrey de Sibert Ancestral Home
Guillaume de Beaufort expanded the original buildings of Cornillon. In partnership with the Duc D’Anjou, the brother of the King of France Charles V, they added to the already existing chapels. The first chapel was re-dedicated to Saint-Martial, the apostle of Limousin. The Saint-Martial chapel was ornately decorated during the expansion. The addition of large silver reserves and priceless works of art turned the once simple chapel into a masterpiece.
The second chapel dedicated to Saint-Jean Baptiste, saw the installation of a bell tower with two large bells and it was decided that this chapel should be illuminated at all times. To this end, seven large fire pits were installed around chapel Saint-Jean Baptiste, lighting the chapel twenty-four hours a day.
A Brief History of Cornillion - Ancestral home of Geoffrey de Sibert
Cornillon traces it’s name back to a Gallo Romain family the Cornelli. The first mention of the Cornillion name can be dated back to 1121 when “Castrum de Cornilione” in 1121 was built on local land.
In the 14th century the Beaufort family purchased the city from the Comtes of Toulouse when the Papacy was installed in Avignon. The castle saw its first expansion under the Beaufort family; they added over forty rooms, including two chapels and a six-level dungeon. The castle became one of the most recognizable structures in all of France. The grand exterior of the castle was to only be rivaled by the vast amount of artistic and material wealth that decorated the interior.
Durect Biologics Program: Partnership Analysis, Clinical Development History and Current Status
Durect has no disclosed partnerships for development or commercialization of any Biologic drug candidate. However, in August 2009 Durect reported that it had signed four new feasibility projects with pharmaceutical and biotechnology companies whereby Durect would apply its Saber™ and Durin™ technologies to both small molecule and biologic agents of interest to its collaborators. Durect undertakes these feasibility projects as a means of demonstrating that its technologies can achieve the drug delivery objectives set forth by its collaborators and are worthy of further development. For example, these feasibility projects generated revenue to Durect of approximately $1.4 million in total during 2009.
Based on input from management, Durect entered into a number of such agreements with companies ranging from emerging pharmaceutical companies to very large Biotech companies. The studies typically take six to eighteen months and are then reviewed by collaborators to determine whether they have interest in pursuing a full scale development agreement leading to an IND and clinical trials. No such agreement has been announced to date, but we consider that this area could be a source of significant new development activity in the coming years.
Purchase by Hector de Sibert of Cornillion Castle- Cornillion Ancestral Home of Geoffrey de Sibert
In 1679, Hector de Sibert purchased the castle of Cornillion from Francois de Gabriac for 25,000 French Francs. Hector de Sibert of protestant origins had recently converted to Catholicism due to the revocation of the edict of Nantes. Hector de Sibert’s son, Charles de Sibert, would become perpetual mayor of Bagnols an honor bestowed upon him by King Louis XIV.
