分类: business

  • BEL Admits Meter Errors, Denies Overcharging

    BEL Admits Meter Errors, Denies Overcharging

    As complaints over unexpectedly high electricity bills continue to flood in from consumers across Belize, Belize Electricity Limited (BEL) has broken its silence to acknowledge occasional human errors in meter reading while strenuously rejecting allegations of systemic overcharging of customers.

    In an official press interaction, BEL Executive Chairman Lynn Young emphasized that the utility maintains full confidence in its billing infrastructure, and urged consumers to trust the company’s invoicing processes. He explained that isolated instances of misread meters — such as when staff mistakenly log a 9 instead of a 6 — do occur, but the company has clear protocols in place to correct these mistakes promptly once identified.

    Young pushed back against claims that the company intentionally manipulates billing to inflate charges for select customers, noting that such a scheme would be functionally nearly impossible to pull off. “If you understand how our billing system works, it is entirely run through automated computer infrastructure,” Young explained. “Pulling off a targeted manipulation of the system to overcharge specific customers would take an extraordinary level of technical skill that simply isn’t being deployed here. Nothing is impossible, of course, but this scenario is not remotely plausible.”

    He also acknowledged that widespread public skepticism of large corporations is common across all industries, drawing a parallel to the scrutiny that media outlets like Channel 5, the reporter’s outlet, face for their coverage. “We are committed to being transparent and factual about any issues that arise,” Young said. “When we make a mistake, we own it immediately and fix it for consumers.”

    A core point of consumer frustration has centered on BEL’s ongoing rollout of new electronic smart meters, a decades-long modernization effort that the company aims to complete by 2028. To date, more than 40,000 old analog meters have already been replaced across the country, and many consumers have reported seeing their bills jump immediately after their meter is upgraded, leading to widespread speculation that the new devices are deliberately inflated readings.

    Young refuted these claims, instead arguing that the new electronic meters deliver far more accurate usage measurements than the aging analog units they replace. According to Young, electronic meters have a tolerance margin of just ±1.5%, compared to the ±3% accuracy range of older analog models. He added that when analog meters malfunction, they are far more likely to under-record energy use rather than over-record it, due to the design of their internal coil systems. When these inaccurate old meters are replaced with precise new devices, some consumers see their bills adjust to reflect their actual energy use — leading to an understandable but misplaced perception that the new meters are overcharging.

    This report is a direct transcript of an evening television broadcast, with Kriol language terminology transcribed using a standardized spelling system for accuracy.

  • Digi Posts Record $36.9 Million Profit

    Digi Posts Record $36.9 Million Profit

    Belize-based telecommunications firm Digi, operating under the national telecom brand BTL, has delivered a landmark annual financial result even after its high-profile attempt to acquire its largest competitor fell through. The company announced a record net profit of $36.9 million, marking a robust 31% year-over-year increase, with earnings per share rising to 70 cents in what company leaders are calling a banner 2025-2026 fiscal period.

    Weeks after Digi’s proposed merger with rival Speednet collapsed, public observers and government officials have been weighing in on the firm’s strong performance. Public Utilities Minister Michel Chebat shared his perspective on the results in a recent interview with local media, acknowledging the success while highlighting the significant public stake in the company.

    Chebat emphasized that Belizean taxpayers injected $700 million in public funds to bail out BTL under the previous administration led by Dean Barrow. “I am glad that they are making a profit, after the seven hundred million dollars of taxpayers funds that Dean Barrow paid for it, we need to find a way at some point in time to recuperate those monies,” Chebat stated. “BTL is the national telecom, whether we want to accept it or not. Belizean taxpayer funds have been invested into that company and I think we have a reason and we have to ensure that BTL survives so that when they are making profits, kudos to them.”

    Looking ahead to the Belizean telecom sector, Chebat confirmed that new competitors are preparing to enter the market, a shift that has been widely anticipated in local industry circles. Even with the coming increase in competition, the minister reaffirmed the government’s commitment to protecting the national carrier. “But we need to make sure that BTL survives no matter where the attacks come from,” he added.

    Notably, Digi achieved this record profit even while absorbing unplanned costs associated with a legacy employee severance obligation that the company inherited as part of its ongoing operational restructuring. This detail underscores the underlying strength of the firm’s core business performance, even in the face of unexpected financial burdens and a failed major acquisition.

    This report is adapted from a verbatim transcript of an August 24, 2026 evening television news broadcast from Belize.

  • Why Americans keep choosing the Caribbean

    Why Americans keep choosing the Caribbean

    Against the backdrop of a sharp nationwide increase in U.S. citizens traveling internationally, the Caribbean region continues to hold strong, enduring appeal for American vacationers, with industry leaders identifying geographic proximity, cultural accessibility, diverse recreational options and easy entry as the core pillars of its sustained demand.

    This ongoing momentum took center stage at the 2026 ASTA Caribbean Showcase, a flagship industry event hosted by the American Society of Travel Advisors (ASTA) in St Kitts and Nevis, which gathered leading travel advisors from across the United States to discuss emerging trends and regional opportunities. In an interview with the *St Lucia Times* on the sidelines of the conference, ASTA Chief Executive Officer Zane Kirby broke down the key factors drawing Americans to the region. According to Kirby, the top draws in order are proximity to the U.S. mainland, widespread traveler familiarity with regional destinations, universal use of English and the acceptance of U.S. currency, removing common barriers that often discourage international travel. Beyond practical accessibility, Kirby emphasized that the Caribbean’s iconic natural landscapes remain the heart of its allure, noting that the region’s turquoise azure waters, clear tropical skies and wide range of activity options keep it a top bucket-list destination for American travelers of all ages.

    The Caribbean’s growing traction comes as part of a larger, well-documented boom in outbound travel from the United States. The *Wall Street Journal* recently dubbed this trend the rise of the “unstoppable American traveler,” linking the surge to two key demographic groups: wealthy Baby Boomers, who collectively hold more than $110 trillion in accumulated wealth, and adventure-seeking millennials hungry for international experiences. Broader societal shifts have also laid the groundwork for this growth: just 5% of Americans held a valid passport in 1990, a figure that has skyrocketed to over 50% today, opening the door for far more citizens to travel abroad regularly.

    While Europe continues to dominate as a top long-haul destination for American international travelers, travel advisors at the ASTA event noted that the broader outbound boom has created significant new opportunities for Caribbean nations to capture a larger share of the growing travel market. Blair Hutchinson, owner of North Carolina-based travel planning firm B Anise Events, shared that she has observed a clear uptick in bookings for Caribbean getaways, a trend she attributes heavily to the region’s close proximity to the U.S. east coast. For Hutchinson, who specializes in planning destination weddings, the Caribbean also checks every box for couples seeking a romantic, accessible tropical wedding location, making it a top recommendation for that niche market.

    Hutchinson added that the Caribbean’s wide range of islands caters to every type of traveler, from first-time international vacationers to experienced globetrotters. Islands closer to the U.S. are particularly popular among travelers new to international trips, who value shorter flight times and easier access, while more distant islands including Barbados and St Lucia tend to draw seasoned travelers looking to explore beyond the most well-known mainstream destinations. Beyond geographic positioning, the unique range of experiences each island offers shapes advisor recommendations, with Hutchinson singling out St Lucia as a standout option, citing its diverse outdoor excursions, warm local hospitality, vibrant culinary scene and dramatic volcanic terrain as major draws for her clients.

    As international travel continues to rebound and expand, travel industry professionals note that modern travelers are becoming far more discerning about the types of experiences they prioritize when visiting a destination, shifting away from generic, tourist-focused itineraries. Hutchinson pointed to growing demand among her clients for immersive experiences that connect them deeply to local life and culture, rather than just checking off iconic tourist landmarks. This shifting consumer preference was a major topic of discussion during an August 23 panel at the ASTA Showcase.

    Natalie John, CEO of luxury wedding planning firm Dreamy Weddings, told attendees that today’s travelers increasingly prioritize intimate, customized experiences that align with their personal interests, rather than one-size-fits-all group tours. Davina Baptiste, owner of Kitts Teas, a representative for Christophe Harbour Development and a specialist in Caribbean wellness tourism, added that the growing desire to escape stressful, fast-paced modern lifestyles is also reshaping traveler expectations. Baptiste noted that many visitors are now seeking experiences that go beyond standard resort spa treatments, pointing to partnerships with local artisans that offer one-of-a-kind cultural activities such as guided local dive trips and traditional Caribbean cooking classes as examples of high-demand offerings.

    For individual Caribbean destination, this shift in consumer demand opens an exciting new opportunity to move beyond the generic “sun, sea and sand” branding that has long defined the region and highlight the unique cultural, culinary and outdoor experiences that set each island apart. With more travelers actively seeking out new destinations to add to their travel lists, industry leaders agree that the Caribbean has massive room to continue growing both new and repeat visitor numbers. Anna Luquingan, a luxury travel advisor with Peekture, emphasized that the region’s incredible diversity means even travelers who have visited one or two islands have barely scratched the surface of what the Caribbean has to offer, creating endless opportunities to encourage return trips.

    Kirby echoed this optimism, noting that the Caribbean still has enormous untapped growth potential for American visitors, provided regional destinations continue to invest in critical infrastructure and improved air and cruise connectivity to accommodate rising demand. He cautioned that limited infrastructure and capacity constraints are currently the biggest barriers to faster growth, urging local governments and tourism boards to prioritize targeted investments to keep up with increasing visitor numbers. As the ASTA Showcase made clear, the future of sustained growth for Caribbean tourism will depend on balancing improved infrastructure with authentic, culturally rooted experiences that turn growing traveler interest into long-term, consistent visitation.

  • SGCC wil structurele oplossing voor uitval Canawaima-veerverbinding

    SGCC wil structurele oplossing voor uitval Canawaima-veerverbinding

    The temporary suspension of the key cross-border Canawaima Ferry Service linking Suriname and Guyana has left hundreds of travelers stranded on both sides of the Corantijn River, prompting the Suriname-Guyana Chamber of Commerce (SGCC) to call for urgent transparency around service resumption and long-term infrastructure improvements.

    The M.V. Canawaima, the only vessel operating the critical route across the Corantijn River, was pulled from service to carry out required maintenance and technical repairs. While the SGCC acknowledges that passenger and crew safety must remain the top priority for all stakeholders, the organization warns that the extended lack of clarity around the duration of the outage and repair timeline is creating widespread disruption. Scores of passengers are currently stuck at border terminals on both sides of the river, facing uncertain travel plans, while the suspension has halted both passenger movement and commercial goods traffic along the key bilateral corridor.

    In a formal statement released this week, the SGCC outlined multiple urgent demands for the governing bodies of both nations. First, the organization called for immediate, clear public communication about the scope of ongoing technical works, a concrete timeline for restoring full service, and detailed information about any alternative temporary transport options available to stranded passengers and commercial operators while the ferry is out of commission. Second, the SGCC emphasized the urgent need to address the route’s longstanding vulnerability to unplanned outages, noting that this current disruption is not an isolated incident. The chamber is pushing for immediate arrangements to source a backup vessel that can be deployed whenever the primary ferry is taken out of service for maintenance or unexpected repairs. In the long term, the SGCC says investment in a brand-new purpose-built vessel is a critical necessity to secure the route’s long-term reliability.

    The Canawaima Ferry Service acts as a core logistical artery for cross-border exchange between Suriname and Guyana, supporting everything from individual travel to small business operations, large commercial trade flows, and cross-border supply chains. A prolonged service outage does not only disrupt the plans of individual passengers – it generates significant financial losses for transport companies, cross-border traders, and local enterprises on both sides of the border that rely on consistent access to the route.

    This is not the first time the SGCC has pushed for systemic change to improve the ferry service’s reliability. The organization has long advocated for a durable, long-term solution to guarantee consistent service and improved management of the route. Previously, SGCC submitted a joint proposal to the governments of both Suriname and Guyana to establish a public-private partnership (PPP) to take over management of the Canawaima Ferry Service.

    The current unplanned outage, the SGCC stresses, underscores the urgent need for structural systemic reforms. Without targeted intervention, the chamber says, the critical bilateral transport link will remain vulnerable to disruptive outages that harm economic activity and cross-border connectivity between the two neighboring nations.

  • UDP Joins Growing Opposition to Proposed Hotel Tax Hike

    UDP Joins Growing Opposition to Proposed Hotel Tax Hike

    As Belize’s government considers raising the national hotel accommodation tax from 9% to 12% — a 33% percentage jump — a growing coalition of industry stakeholders and political actors is lining up to oppose the measure, with the United Democratic Party (UDP) the latest to add its voice to the pushback.

    The UDP has emerged as a prominent critic of the proposal, arguing that the tax increase amounts to harmful economic extraction rather than sustainable growth, at a moment when global travelers increasingly prioritize affordable destination choices. Instead of placing additional fiscal pressure on an existing core industry, the party contends that the government should prioritize expanding the overall national tax base to generate new revenue without endangering Belize’s critical tourism sector.

    Warned that the fallout of the tax hike would be devastating, the UDP emphasized that tourism supports thousands of livelihoods across Belize, with ripple effects extending far beyond accommodation providers. Hotels, private tour operators, local restaurants, independent tour guides, road and water taxi services, domestic airlines, local artisans, small-scale agricultural producers and hundreds of small, community-focused businesses all rely on discretionary spending from incoming visitors. A drop in tourism demand triggered by higher hotel rates would put all of these interconnected economic actors at risk, the party said.

    The UDP’s opposition aligns it with two of the country’s leading tourism industry groups: the Belize Hotel Association (BHA) and the Belize Tourism Industry Association (BTIA). BHA President Reynaldo Malik pointed out that hoteliers are already grappling with a 30% surge in fuel costs that has significantly squeezed already thin operating margins, leaving the sector with no capacity to absorb additional cost increases that would likely be passed on to consumers.

    BTIA President Efren echoed calls for fiscal reform alternatives, arguing that the government should prioritize closing costly public expenditure leaks instead of targeting tourism for new tax revenue. If the government moves forward with the hike despite widespread opposition, Perez confirmed that BTIA will push for a policy mandate requiring 2% of all new tax revenue generated from the increase to be allocated to a national climate adaptation fund, which supports tourism infrastructure resilience to climate impacts.

    Across all opposing groups, a core demand has emerged for full transparency from the Belize Tourism Board. The UDP has formally called on the board to publicly release all supporting economic analysis for the proposal, including detailed projections for how the tax change will impact key tourism metrics: inbound visitor arrivals, average hotel occupancy rates, average length of visitor stay, and total annual visitor spending. Before any final decision is made, the board must publicly justify the need for the increase and answer questions about its projected long-term impacts on Belize’s economy.

  • BEL Chairman: Heat, Not Smart Meters, Driving High Bill Complaints

    BEL Chairman: Heat, Not Smart Meters, Driving High Bill Complaints

    As soaring temperatures grip Belize, a growing wave of consumer complaints over unexpectedly high electricity bills has sparked widespread debate over whether the national utility’s ongoing smart meter rollout is to blame for the increased costs. In a direct response to mounting public pressure, Lynn Young, Executive Chairman of Belize Electricity Limited (BEL), has laid out a clear breakdown of the root causes behind the spike in complaints, naming record-breaking heat as the single largest contributor to elevated power consumption and higher monthly bills.

    Young acknowledged that public skepticism around smart meters has grown alongside the rising number of customer grievances, but he emphasized that most discrepancies can be traced back to inaccurate readings from aging legacy meters, rather than flaws in the new smart technology. “When we investigate complaints about the new meters, we repeatedly find that older devices had stopped tracking consumption correctly over time,” Young explained in his address. “In some cases, old meters under-reported energy use for years, so when a new, fully accurate smart meter is installed, customers see an immediate jump in their bill that reflects their actual usage, not overcharging by the utility. There are a small number of cases where new meters also experienced reading errors, but we have not found evidence of widespread tampering or systemic flaws. Over time, as we complete the full rollout and replace all outdated devices, these transitional issues will resolve themselves, and customers will gain greater visibility into their energy use to better manage their costs.”

    Beyond heat-driven consumption and legacy meter inaccuracies, Young also highlighted a common administrative issue that has triggered unnecessary panic among some customers: delayed bank payment processing. Many consumers who pay their bills via direct bank transfer in the 24 to 48 hours before the due date often receive their next monthly bill before the payment has fully cleared through the banking system. This means the unpaid balance from the previous billing cycle is still reflected on the new bill, leading customers to incorrectly assume their electricity costs have doubled overnight. “We’ve seen several instances of this misunderstanding,” Young noted. “Once we walk customers through the processing timeline and confirm their payment is pending, the confusion is quickly resolved.”

    Overall, Young confirmed that the volume of high bill complaints is running well above the five-year average for this time of year, but he expressed confidence that complaints will drop sharply as cooler autumn and winter weather arrives. “Come November and December, when temperatures cool down and people cut back on air conditioning use, we fully expect complaint numbers to return to their normal baseline,” he said.

    To ease the financial burden on customers who have accumulated back payments due to years of under-reporting from faulty old meters, BEL has implemented a flexible payment program that allows users to spread catch-up costs across multiple months, rather than demanding the full outstanding balance in a single lump sum. “We recognize that sudden catch-up charges can place significant strain on household budgets, so our payment plan is designed to soften that impact while still ensuring customers pay only for the energy they have actually used,” Young added.

  • Electricity Bills Rise as Renewable Energy Fixes Stay Stuck in the Pipeline

    Electricity Bills Rise as Renewable Energy Fixes Stay Stuck in the Pipeline

    As Belizean households open their monthly electricity statements this billing cycle, they are confronting an unexpected new surcharge – and the frustrating revelation that two transformative renewable energy initiatives designed to curb long-term energy costs are still trapped in administrative and procedural delays.

    Belize Electricity Limited (BEL), the country’s primary power provider, has confirmed that it has been paying far more to procure electricity than it charges end consumers, a cost gap that has swollen to more than four cents per kilowatt-hour over the past six months. To recoup this growing shortfall, the Public Utilities Commission has approved a new Cost of Power Adjustment surcharge, capped at 1.5 cents per kilowatt-hour, which is now being passed to customers.

    Lynn Young, BEL’s Executive Chairman, explained that the mounting deficit stems from steep, unmanageable costs owed to Mexico’s state power utility CFE, the company’s main cross-border energy supplier. “Over the last year, BEL has faced serious challenges meeting our payment obligations to CFE,” Young stated. “There were multiple points where CFE explicitly warned that service would be disconnected if outstanding payments were not settled.”

    The tariff increase has sparked widespread public and political pushback, with critics tying the higher costs to a deepening affordability crisis that has strained household budgets across the country. Union Senator Glenfield Dennison warned that rising essential input costs have left working Belizeans unable to adequately provide for their families. “When we cannot bring down the costs of basic necessities that working people rely on, our country as a whole is put in a vulnerable position,” Dennison argued. “What we need right now is a concrete, actionable plan to address growing poverty in the wake of these increases.”

    In response to growing public outcry, Prime Minister John Briceño has instructed Public Utilities Minister Michel Chebat to convene urgent talks with BEL leadership and Public Utilities Commission regulators, followed by a public briefing to outline the government’s path forward. Briceño defended the unavoidable tariff hike, stressing that BEL has been bleeding revenue for months due to exorbitant peak-hour energy purchasing costs. “BEL faces major energy shortfalls during peak usage hours, forcing the utility to buy power at rates as high as one U.S. dollar per kilowatt-hour, then sell it to consumers at just 40 to 42 Belize cents per kilowatt-hour,” Briceño explained. “The government has worked to delay this price increase for as long as possible to protect consumers, but the accumulated deficit could not be absorbed indefinitely. Unfortunately, the adjustment was unavoidable.”

    The most frustrating element of the current crisis for many stakeholders is that two large-scale renewable energy projects that would eliminate this long-term cost pressure remain stalled, years after they were first proposed. Briceño confirmed that funding for a large, multi-million-dollar solar initiative backed by Saudi investors was approved rapidly by backers, but bureaucratic red tape has dragged the process out for years. “We moved to secure Saudi funding for this project as soon as we took office, and they approved the loan immediately,” Briceño noted. “But navigating their internal processes takes an extraordinary amount of time, given the scale of their administration and the many competing priorities they manage. We are only just now reaching the point of securing contractors to begin construction on the project.”

    A second high-priority initiative, a 40-megawatt energy storage project funded by a $100 million World Bank loan, has been held up by an entirely separate obstacle: an illegal squatter who has occupied the BEL-owned project site in San Pedro for two years, claiming to protect local iguana populations. Briceño called the squatter’s claim a scam, and criticized World Bank bureaucrats based in Washington for halting the entire project over the illegal occupation. “This is not the only critical habitat for iguanas in the region,” Briceño emphasized. “Because nameless Washington bureaucrats refuse to move the project forward over this illegal occupation, we have lost years of progress. If the project had been completed by now, we would already be able to buy low-cost surplus energy from Mexico at off-peak hours, when prices drop to just 3 to 4 cents per kilowatt-hour.”

    Despite the current setbacks, Briceño noted that the government’s recent declaration of a national energy emergency could streamline permitting and cut red tape to bring new independent power producers online within 12 months. If achieved, this initiative could save BEL an estimated $28 million annually in energy procurement costs, ultimately reducing pressure on consumer bills. Even so, the Prime Minister acknowledged that meaningful relief for households will take time to materialize, as structural energy challenges in Belize cannot be resolved overnight.

  • Hideaway Too built on local landowner partnership

    Hideaway Too built on local landowner partnership

    On August 21, a landmark new construction project officially kicked off in True Blue, Grenada, as developer RIEAST Developments held its groundbreaking ceremony for Hideaway Too, a 23-unit mixed tourism and student accommodation development slated to welcome its first guests and residents in January 2028.

    What sets this project apart from many real estate developments in the region is its commitment to inclusive local ownership, rather than the traditional model of outright foreign purchase of local land. When local landowner Ernest Sanderson reached out to RIEAST Developments Chairman and President Dr. Richard A. Nixon to discuss selling the family-held plot of land near St. George’s University, Nixon proposed an alternative collaborative structure: Sanderson would contribute the land as equity in the project, allowing him to retain a permanent ownership stake in the development rather than ceding full control for a one-time payout. Nixon emphasized that this collaborative framework aligns with his core vision of empowering Grenadians to build long-term value from the assets they already hold, rather than selling them off.

    For project shareholder Stephen Scoon, whose family roots trace back to Gouyave, the project carries deep personal meaning. Scoon explained that his late father was a Grenadian native, and for generations his family had never been able to develop or invest in their ancestral homeland’s land — making this partnership a meaningful fulfillment of his family’s legacy.

    Unlike RIEAST’s earlier nearby development Hideaway True Blue, which was structured under Grenada’s popular Citizenship by Investment (CBI) immigration program, Hideaway Too will not rely on CBI funding for its current development phase. Nixon confirmed that the project is instead primarily financed through a mix of direct shareholder equity and commercial lending from Republic Bank, though the company has not permanently ruled out integrating the CBI program into the project at a later date.

    Republic Bank Corporate Banking Manager Devon Thornhill outlined the key factors that led the financial institution to back the development. The bank’s confidence in the project stemmed from three core pillars: the significant equity contribution from the project’s investors, its prime location adjacent to St. George’s University that guarantees consistent demand for student accommodation, and the proven track record of the development team in delivering and financing the first phase of the Hideaway project successfully. Nixon added that his track record of never defaulting on financing for the first phase — even through the economic volatility of the global COVID-19 pandemic — played a critical role in building the bank’s trust for this second phase.

    In line with the project’s focus on local benefit, Nixon announced that construction is projected to employ a 70% local and 30% foreign workforce. This split is intentional, designed to create immediate job opportunities for Grenadian workers while supporting cross-border skills transfer that builds long-term local capacity. Construction will be carried out by Grenada State Engineers over an expected 18-month timeline, keeping the project on track for its planned January 2028 opening.

    The Hideaway Too project addresses growing demand for accommodation near St. George’s University, one of Grenada’s major higher education and economic anchors, while introducing a more inclusive ownership model that prioritizes local wealth building over outside control. For stakeholders involved, the development represents both a business venture and a test of collaborative development that centers local interests.

  • Banco BHD announces fourth New York City Real Estate Fair for Dominican diaspora

    Banco BHD announces fourth New York City Real Estate Fair for Dominican diaspora

    Leading Dominican financial institution Banco BHD has officially announced the fourth iteration of its signature sponsored event, the New York City Real Estate Fair, scheduled to run from September 11 to 13, 2026, at New York City’s iconic Armory Arena located at 216 Fort Washington Avenue. This year’s edition will bring together over 25 of the Dominican Republic’s most prominent construction and real estate firms, creating a centralized platform for cross-border property engagement.

    Over the three-day event, Dominican community members residing across the United States will gain exclusive access to browse a diverse portfolio of real estate developments spanning every region of the Dominican Republic. The showcased projects span a full range of progress timelines, from newly launched pre-construction offerings to completed move-in ready residential properties, accommodating varied timelines and preferences for potential buyers.

    At its core, the fair is designed to bridge the gap between the Dominican diaspora and accessible property investment and homeownership opportunities back in their home country. Beyond simply showcasing available developments, organizers have structured the event to provide comprehensive guidance, educational resources, and tailored financial support to help attendees navigate the often complex process of purchasing property across borders.

    As the lead sponsor and a key participant, Banco BHD will deliver one-on-one personalized financial guidance and dedicated financial education programming throughout the event. Bank specialists will be on hand to walk attendees through all eligible property financing options, outline critical risk and planning factors to evaluate before committing to a major real estate purchase, and detail the step-by-step process to prepare for securing financing through Dominican financial institutions.

    Event organizers emphasize that the initiative goes beyond introducing attendees to available projects: it prioritizes empowering attendees with the knowledge to understand every stage of the purchasing process, enabling them to make informed choices that align with their long-term personal and financial goals.

    Freddy Simó, Vice President of Specialized Sales at Banco BHD, noted that the bank’s annual New York Real Estate Fair has evolved into a critical connection hub between Dominicans living in the United States and the fast-growing Dominican real estate sector. “We want to give every attendee the chance to sit down with our specialists, get clear answers to their questions, and identify the path that works best for their unique financial situation and life stage,” Simó explained. “Our commitment extends through every step of the journey—we stand by our clients before, during, and after they make this major life decision to purchase property.”

    Banco BHD brings deep institutional experience in serving the financial needs of Dominicans living outside the country. The bank has a proven track record of supporting similar cross-border real estate engagement initiatives, including prior sponsored fairs held in Madrid, Spain, and Zurich, Switzerland, building on years of outreach to the global Dominican diaspora.

  • Punta Bergantín development to be monitored through permanent economic and social study

    Punta Bergantín development to be monitored through permanent economic and social study

    One of the Dominican Republic’s most anticipated large-scale tourism developments, Punta Bergantín, is set to pair its infrastructure growth with a groundbreaking permanent research initiative designed to measure the project’s far-reaching economic, social, and spatial impacts on local and regional communities across the country’s northern corridor. The monitoring and assessment effort is formalized through a collaborative partnership agreement between three key stakeholders: Pontificia Universidad Católica Madre y Maestra (PUCMM), the Dominican Ministry of Tourism (Mitur), and the Punta Bergantín Trust for Economic and Social Development.

    Under the framework of the program, research teams will systematically track a robust set of core development indicators spanning local job creation, household income levels, new small business entrepreneurship, incoming capital investment, and overall changes to community quality of life. Leadership of the research, data collection and analysis, and public reporting processes will fall to PUCMM’s respected School of Economics, which will build a unique longitudinal database to track the project’s evolution over time. Semiannual and annual progress reports will be published to create a transparent, evidence-based record of how the tourism development shapes surrounding communities.

    Dominican Tourism Minister David Collado emphasized that evidence-driven decision-making is a cornerstone of the country’s modern national tourism strategy. He noted that the Dominican Republic has long integrated analysis of visitor trends and global market behavior into its policy planning, and this new impact research program extends that data-focused approach to understanding how large projects benefit local populations. The research scope is intentionally broad, covering Villa Montellano (the project’s host community), all communities directly and indirectly impacted by Punta Bergantín’s operations, and additional sites across the northern region—including the major city of Santiago, when research topics call for expanded comparison. Ultimately, the study’s findings will empower public officials to craft targeted, adaptive policies that align with measurable shifts in regional economic and social conditions.

    Beyond impact monitoring, the partnership agreement also includes provisions for academic research and professional development training for both university students and industry practitioners. PUCMM’s School of Tourism and Gastronomy is slated to take a leading role in operating a future hotel school that will be built within the Punta Bergantín development, creating a pipeline of skilled local talent for the growing tourism sector.

    The first construction phase of Punta Bergantín is planned to deliver 1,600 new hotel rooms, marking the first major step in the project’s long-term rollout. Leonardo Aguilera, CEO of Banco de Reservas, highlighted that the systematic research will fill a critical gap in understanding large tourism project outcomes, providing clear data on exactly how much employment and investment the initiative generates, and what it contributes to inclusive regional economic and social progress.

    For senior Dominican officials, Punta Bergantín represents far more than a new tourism destination: it is framed as a catalytic development project that has the potential to unlock broad-based growth across Puerto Plata and the entire northern region of the country. The permanent research program is designed to ensure that this growth delivers tangible, measurable benefits to local communities, rather than just external industry stakeholders.