Posted: Saturday, September 2, 2023. 5:57 pm CST.
By Breaking Belize News Staff: At the Belize Investment Summit, which ran from August 31 to September 1, 2023, the former President of Colombia, Iván Duque Márquez, opened the event with an insightful presentation on the potential of the orange economy in Belize.
The “Orange Economy” epitomizes businesses rooted in creativity, encompassing spheres like art, culture, research, science, and technology. Márquez recognized Belize as a burgeoning land of opportunity, enriched with cultural diversity and undergoing rapid development. In his homeland, Colombia, the orange economy has not only created myriad jobs but stands as one of its robust economic pillars.
Márquez highlighted that a thriving orange economy can significantly augment a nation’s wealth. For Belize to harness the full potential of this economic avenue, Márquez identified seven pivotal policies, with a key focus on information dissemination. He elaborated on Colombia’s successful integration of satellite accounts into their national statistics bureaus. These satellite accounts amalgamated culture and creativity with all sectors and sub-sectors mentioned in the UNTAT economy index. Notably, it revealed that the majority of founders and employees associated with this sector were between the ages of 18-40, showcasing it as a substantial platform for youth employment.
For Belize, where the full employment rate stands at 2.8% and where the challenge is to offer more opportunities to the youth, the implications are monumental. The orange economy could provide a conducive environment for Belizean youth to leverage their innate talents, facilitating their journey to realizing their full potential.
Márquez emphasized the need for Belize to establish a dedicated cabinet that would strategize on maximizing the value derived from the orange economy. He underscored the importance of robust infrastructure, citing the global success of the Sydney Opera House, which has generated significant international traffic for Australia.
By harnessing the orange economy, Belize can rejuvenate its struggling creative industries, thereby igniting the inspiration and aspirations of its citizens.
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