Posted: Wednesday, March 28, 2018. 11:12 A.M. CST.
By Jacob Williams: Belize is one of the world’s most idyllic holiday destinations, representing a hidden gem of the Central American coast. While its historic Mayan roots and beautiful sandy beaches speak volumes, it isn’t all that this nation has to offer the world. In recent years, Belize has become an appealing country with regards to business development. What’s helping Belize further its growing reputation is its sustainable development practices, which were first discussed towards the back end of 2017.
What are sustainable development practices?
The entire purpose of sustainable development is to craft and curate a society where living conditions and available resources are able to meet the needs of a country’s citizens. This should occur without undermining or contravening the integrity and stability of the natural system. Achieving sustainable development sounds easy on paper, but the reality is often far from it. What’s required is a series of practices that cover various sectors within a nation’s economy.
While sustainable development is still subject to criticism, largely due to its public misunderstanding, its practices generally carry the best of intentions. Looking at the steps that are commonly undertaken, any sustainable development program will put steps in place to reinvent the economy, improve social responsibility, encourage system innovation, change unproductive routines, improve health care, increase knowledge sharing, empower citizens, and launch a sustainable approach to land, water, energy, and mobility.
What are Belize’s goals for sustainable development?
Belize has emerged as a notable international business hub, largely as it has been placing increased focuse on its economy as a means to meet its sustainable development goals. While the business adoption has been accelerated in recent years – which has helped slow-down the country’s unemployment levels – it’s the nation’s long-standing relationship with e-gaming that has helped Belize push forward the country’s economic plans. Belize has made great progress in the international business sector, with banking and e-gaming licensing becoming an important part of Belize’s economy. By providing banking services and e-gaming licensing to gaming brands (like those that are featured on sites like www.playright.co.uk), Belize is empowering its economy without wasting its natural resources. That being said, since launching the Computer Wagering Licensing Act back in 1996, with it being a move well ahead of its time, it’s now facing stiff competition from the world’s other leading e-gaming governing bodies.
This isn’t to say that the e-gaming industry is under pressure in Belize – as that certainly isn’t the case – what is the case is that its position in the market appears to be changing. As a leading industry within Belize’s growing international business sector, it’s now moving towards gaining a stronger foothold within the wider global market. For example, steps are now being taken to improve its standing, largely via the emerging cryptocurrency casino market. BitStarz, mBit Casino, and FortuneJack have all shown the effectiveness and profitability of this new gambling sub-sector, with this not escaping the eye of Belize’s government officials. XWIN CryptoBet – a local sports betting company – recently acquired a Belize gaming license that will enable it to provide online sports betting using blockchain technology. Another Belize-based gambling brand is even taking things a step further, as LetBet is moving forward with the creation of its very own token. Through its own cryptocurrency its sports betting platform will be able to operate on a decentralized, peer-to-peer basis, allowing for the use of blockchain technology along with smart contracts.
Belize has some pretty lofty – yet certainly achievable – goals regarding its sustainable development aspirations. You need look no further than recent stories regarding the phasing out of single-use plastic products and environmental conservation. However, the international business sector still remains a key element within the country’s goals for sustainable development, with business and sub-sector diversification being of crucial importance.
How is Belize planning to achieve its goals?
It’s easy to forget that Belize only first discussed its sustainable development goals publicly back in November. Occurring at the Knowledge Fair in Belmopan, it was the first event of its kind and went a long way in revealing how Belize plans to meet its goals. Setting a precedent, it’s evident that the information sharing between Belize’s Civil Society Organizations (CSOs) will likely be pivotal. By interacting at all CSO levels, it will create specific opportunities to collaborate and network with other organizations towards achieving similar ambitions. This, in turn, will create almost invaluable opportunities for collective progress, and really tap into Belize social development goals slogan of “Leave No One Behind”.
Social development goals aren’t just being seen as a marketing ploy in Belize, as the government ministries, the private sector, non-governmental organizations, and civil society have all showcased a will towards meeting related targets. There has been a mass mobilization for the cause, with those involved working to a shared agenda. We’ve recently seen stories emerge regarding reef protection laws, Four Seasons’ commitment to conservation, and the three-fold expansion of protected waters, which shows that progress is being made. Success regarding social development goals will surely have transformative potential on defining new policies and programs in the years to come. This will be inclusive of implementing specific goals, in turn changing cultures, behaviors, and practices, with this all seemingly coming along well.
Belize makes its sustainable development goals clear
Belize has been transforming its global image in recent times, as it has been putting its best foot forward when it comes to business sector growth and mass-scale conservation. Helping make sure that Belize remains in a state of progression are its sustainable development practices, which could bring the country’s environmental and business goals further in line with each other.
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