At the Shannon Murree Group – we are focused on serving retirees, real estate investors, digital nomads, and second homeowners find the perfect investment or home away from home. If looking in the Caribbean or Latin Americas, perhaps Honduras is for you?
Known for its rich natural resources, tropical fruits, beautiful beaches, and nature, Honduras is a quickly becoming a popular destination for possible retirement or second-home destinations. Their tropical climate draws in visitors who seek a true Caribbean getaway.
Rich in culture, Honduras is also home to one of the finest Maya sites in the world. Other adventures include snorkeling in the lagoon, rafting trips, basking on the two slivers of beach, zipping out to a sprinkling of cays off the island’s southwest coast, and soaking up the rustic tropical vibe.
Breathtaking landscape, fantastic biodiversity, mix of cultures, and friendly, hardworking people…Honduras is a true gem of the Caribbean.
The People & Lifestyle
Honduras has seven indigenous peoples scattered across the country’s terrain: Miskito and Tawahka in the eastern lowland rainforests, Pech and Jicaque in
the more remote central highlands, while the Chortí and Lencas occupy the rugged western highlands, and the newly organized Nahua live in the Olancho
department of an incredibly diverse Central American country.
With our real estate partner, ECI Development offers affordable luxury residence & resort communities in Central America, providing our clients with various premier lifestyle options from the Caribbean to the Pacific.
They promise to deliver inspired residences for adventurous souls and a consumer‑oriented company focused on serving retirees, real estate investors, Digital Nomads, and second homeowners in Latin America.
Biz Latin Hub CEO Craig Dempsey discusses and shares “Investing in Honduras: Four Good Reasons Why Foreign Investors Should Consider Honduras”
1. Strong growth and improving business conditions
Before the global pandemic, Honduras witnessed 25 years of almost unbroken growth, and, as the World Bank highlights, over recent years it has registered the second-highest growth rate in Central America, only exceeded by Panama. Honduras has also made notable efforts to encourage greater investment and open up more to international business.
Over the past decade, Honduras has significantly expanded its portfolio of free trade agreements (FTAs), including signing deals with Canada and Peru. With its Central American neighbors, Honduras has also signed collective deals with the European Union, South Korea, and the United Kingdom.
Those deals have added to existing deals with Colombia, plus the Central America-Dominican Republic United States FTA (DR-CAFTA), offering preferential access to both the largest economy in the Caribbean and the largest economy in the world.
2. Competitive labor market
Honduras has a growing and increasingly urbanized population, with an average age of just 24.3 years old in 2020. That means it has a ready supply of workers for new businesses to draw from.
The country imposes a minimum wage for entry-level and unskilled workers, ranging from around $236 to $365 per month, which combines with a corporate tax rate that has dropped by 10% over the past decade to create a highly-competitive market for doing business.
The country also boasts relatively high levels of English proficiency — second in Central America to Costa Rica — and better than significantly more popular investment destinations, including Brazil, Colombia, Mexico, and Peru.
3. Improving security situation
While Honduras has a reputation for violence and insecurity, the intentional homicide rate has more than halved over the past ten years, from 73.1 homicides per 100,000 people in 2013 to 37.6 per 100,000 in 2020.
That’s not to say the current situation is good, because Honduras still remains one of the most violent countries in the region. Indeed, it now has the highest homicide rate in Central America, as El Salvador’s rates plummet. But it does point to major improvements in the security situation, with property crime also having fallen in recent years.
Of course, doing business in Honduras means taking the proper precautions to ensure the safety of yourself, your employees, and your assets. However, the government’s attempts to attract more business, the improvements seen can be expected to continue.
4. Geography and logistics
Sat between Guatemala and Nicaragua, and with over 500 miles (800 kilometers) of Caribbean coastline, Honduras offers easy access to the major North American markets of Canada, Mexico, and the United States.
The country has five notable ports serving both the Caribbean Sea and Pacific Ocean, including Puerto Cortes, the largest and deepest port in Central America, which has capacity for up to ten large vessels at a time and regular shipping to Miami, New York, and New Orleans, as well as Asia and Europe.
Honduras has also seen its highway network grow over recent years, with thousands of miles of multi-lane roads connecting the country’s major cities. On top of which, Tegucigalpa’s Toncontín International Airport has direct flights to Dallas, Houston, and Miami, with the longest journey taking less than four hours.
All of this adds up to suggest Honduras could have a bright future, making it an interesting destination for investors that offers a wide range of opportunities to anyone with the right plan and support.
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