Bay Islands Economy
The economy on the Bay Islands is largely tourist-based. Two cruise ship ports operate and host about 580,000 visitors each year. Tour buses abound, taking tourists to animal parks, souvenir shops and beaches.
After tourism, fishing is the largest source of income, with fishing boats a common site, often heading to the coasts of Honduras and Nicaragua in search of lobster.
For those who wish to live a North American lifestyle, cost of living on Honduras can be similar to, if a little more than, living in the U.S. Three locations of the grocery store Eldon’s offer a range of foods familiar to North Americans at prices that reflect the cost of shipping, often at a premium of about 50 percent against the regular U.S. price. Local stores called tiendas and smaller convenience stores called pulperias offer local staples such as beans, rice, eggs, coffee and boxed milk.
Electricity rates are around 38 cents per kilowatt-hour, about three times the average in the U.S. Roatan Electric Company (RECO) provides electricity mostly through the use of diesel generation augmented by solar and wind farms. Most homes use mini split air conditioners that have one unit positioned on an interior wall connected to another unit on the outside wall.
Gasoline averages a little over $1 per liter or $4 per gallon and is regulated by the federal government, therefore price changes are usually small. Many cars sold on the island are North American aftermarket vehicles that usually come to the island after receiving a salvage title in North America. Motorcycles and scooters are common forms of transportation for islanders. Vehicle liability insurance is not required and most local drivers do not carry any sort of insurance. Grupo Q sells new cars, representing Nissan, Chevy, Mazda, Jeep and Dodge as well as the Chinese brand Chery. Corporación Jaar is the local Kia distributor.
American chains Papa John’s, Bojangles, Blimpie’s and Pizza Inn have locations on the island. Other island restaurants are locally owned. There are three Spanish-language TV stations that have news operations on the island: Mas TV, Infoinsular, and Roatan Hable Claro. The local cable and Internet company offers dozens of English and Spanish TV channels and Maxcom is the primary cable and internet provider on Roatan. Fiber-optic connections are available, and prices range from $50 monthly for 90 megabytes per second, up to $280 per month for gig internet.
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…Honduras has a large United States business presence in Standard Fruits, Dole Industries, and huge lumber concerns, textile clothing as well as substantial U. S. aid and military presence. Because of the good relationship with the United States government, Honduras has proven good stability with a governing system much like the United States.
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