Migration continues to transform Belize's population. About 16% of Belizeans live abroad, while immigrants constitute approximately 15% of Belize's population. Belizeans seeking job and educational opportunities have preferred to emigrate to the United States rather than former colonizer Great Britain because of the United States' closer proximity and stronger trade ties with Belize. Belizeans also emigrate to Canada, Mexico, and English-speaking Caribbean countries. The emigration of a large share of Creoles (Afro-Belizeans) and the influx of Central American immigrants, mainly Guatemalans, Salvadorans, and Hondurans, has changed Belize's ethnic composition. Mestizos have become the largest ethnic group, and Belize now has more native Spanish speakers than English or Creole speakers, despite English being the official language. In addition, Central American immigrants are establishing new communities in rural areas, which contrasts with the urbanization trend seen in neighboring countries. Recently, Chinese, European, and North American immigrants have become more frequent.

Immigration accounts for an increasing share of Belize's population growth rate, which is steadily falling due to fertility decline. Belize's declining birth rate and its increased life expectancy are creating an aging population. As the elderly population grows and nuclear families replace extended households, Belize's government will be challenged to balance a rising demand for pensions, social services, and healthcare for its senior citizens with the need to reduce poverty and social inequality and to improve sanitation.

Tourism is the number one foreign exchange earner in this small economy, followed by exports of sugar, bananas, citrus, marine products, and crude oil.

The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth averaging nearly 4% in 1999-2007, but GPD growth has averaged only 2.1% from 2007-2016, with 2.5% growth estimated for 2017. Belize’s dependence on energy imports makes it susceptible to energy price shocks.

Although Belize has the third highest per capita income in Central America, the average income figure masks a huge income disparity between rich and poor, and a key government objective remains reducing poverty and inequality with the help of international donors. High unemployment, a growing trade deficit and heavy foreign debt burden continue to be major concerns. Belize faces continued pressure from rising sovereign debt, and a growing trade imbalance.