Portofino Resort- Now with a new BEACH BAR!!
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#230133 - 02/13/07 09:30 PM The Recent Talk About Wages
Don Greife Offline
The recent discussion on wages being paid to the local tradesmenhas caused me to wonder about several things, not the least of which has to do with those in the fishing guide services. Boats and even fishing tackle isn't cheap in the islands. I'm told that a new panga boat sells for about $15000 and a 90 HP motor is about $6000 US. In addition, a gallon of gas is about $5 and that boat/motor maintenance is about the same as the price of gasoline. Also, one rod and reel can cost another $1000. It would seem that the purchase of many of these things might be out of the reach of many who have limited income wages. My question is: Do the resort owners also own these equipments and hire the guides to run them, or do the guides themselves usually own this stuff?
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#230134 - 02/13/07 09:35 PM Re: The Recent Talk About Wages [Re: Don Greife]
SP Daily Offline
The guides own their equipment, often through financing with local banks. Outboard motors last same time as bank loans (if they're lucky).

#230142 - 02/13/07 10:50 PM Re: The Recent Talk About Wages [Re: Don Greife]
Bill Mc Ghee Offline
depending on the Brand of a 90HP $6000 is about right even here in the US. As for the rod and reel at $1000. Are you talking about OFF Shore Big gamefish Rods and reels. If you are then $1000 is also pretty close to what you would pay here in the states.Some of those reels are over $1000 before you even think about a Offshore rod for it.

Edited by BiIl Mc Ghee (02/13/07 10:52 PM)
Never Use money to measure wealth

#230144 - 02/13/07 11:14 PM Re: The Recent Talk About Wages [Re: Bill Mc Ghee]
Micks Offline
So at the rate the Guides are getting paid (in BZ currency).. It must take them a lifetime to pay off everything?!?!

#230162 - 02/14/07 07:27 AM Re: The Recent Talk About Wages [Re: Micks]
Don Greife Offline
I'll do a little arithmetic tomorrow and share my results with you. Is an estimate of 6% mortgage for 10 years fair for a boat at a Belize bank?
I'll be happy to discuss my avatar with anyone who knows what it is.

#230171 - 02/14/07 03:41 PM Re: The Recent Talk About Wages [Re: Don Greife]
SP Daily Offline
More likely is a loan against his home at 12% or more for 3 to 5 years...and will probably get rolled over forever.

#230196 - 02/14/07 08:09 PM Re: The Recent Talk About Wages [Re: SP Daily]
Don Greife Offline
Jesse, if the mortgage rate and term are 12% qnd 4 years, the guide would have to "average" a litle more than one trip every week to pay the mortgage, buy $5 gal/gas, Maintenance and feed his family on $108.26 per week. While the rate and term you suggested are "believeable" I find them unreasonably inflated and would suggest to me that there may be an oppertunity for a boat leasing agency who didn't mind spending a buck on advertisement. It's a cinch the banker isn't spending any money advertising the guides proficency, nor, does it seem, is anyone else. There is something wrong with this whole picture. Kinda makes me wish I were single and 50 years younger. I'd be FISHIN'
I'll be happy to discuss my avatar with anyone who knows what it is.

#230218 - 02/14/07 11:56 PM Re: The Recent Talk About Wages [Re: Don Greife]
DitchDocDiver Offline
Don, don't forget about the % paid to the booking co. Not sure what it is anymore, but a guess would be 10-20% RETAIL, ie the price the end user would pay/
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#230224 - 02/15/07 12:44 AM Re: The Recent Talk About Wages [Re: DitchDocDiver]
Don Greife Offline
I hear yah, DitchDoc... Kinda makes you wonder "what else" is wrong with this picture. One might think that the 10-20% ($25>$50 per trip)paid to the booking company might have been better spent advertising his own service in periodicals etc. I was kinda hoping that some first hand knowledge might have reared its head on the subject. Perhaps it is just of little local interest,,,,,,, there are times when I just get off on a rant and don't know when to quit.
I'll be happy to discuss my avatar with anyone who knows what it is.

#230227 - 02/15/07 12:58 AM Re: The Recent Talk About Wages [Re: Don Greife]
Bill Mc Ghee Offline
It seems to me that you have not factored into your equation the fact that the guide also shares in the catch. In my case (2) trips. I took 4 fish out of a fair guess 60 that the guide put in the live well. I am told that Fish are sold for a premium dollar in San Pedro, and that many of the quides supply the local Hotel resturants and non hotel resturants.
I am also sure that the price of fish cannnot be a sustainable source of income only , or the Local Fishermen would still be out there exclusivley for the fish markets. The Tourist Bookings must be much more lucrative than the fishing industry.

As an avid fisherman, who has been on the charter side of the industry I know it's not an easy profession. But, like any business if managed properly can be sucessful.From what I saw I will definately agree with you that something is wrong in the picture. The most blaring wrong I saw was the boats were underpowered for long hauls ( fuel guzzleing ) and overpowered for trolling ( fuel guzzling).However, this is none of my business, I am not running a Charter service in Belize. I'm a visitor, and oweing to the laws established by the Country concerning non residents establishing a business there I'll remain the happy Tourist.
Never Use money to measure wealth

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