OK, this is the truth about the strength of a chain or a belt needed by a motorcycle. It's determined by the torque output from the transmission AND THE DIAMETER OF THE DRIVE PULLY OR SPROCKET coming out of the transmission. For an EX500 the engine torque is about 35 ft lbs. The primary gear and the first gear ratio in the transmission are 2.652 and 2.571. So, the torque out of the transmission is equal to 2.652 x 2.571 x 35 = 239 ft lbs. The diameter of the 16 tooth sprocket is about 3" (I haven't measured one but 3" is close) or 1/4 of a foot. So the force on the chain at peak torque in first gear would be about 956 lbs (239 ft lbs / 1/4 ft). If you wanted to run a belt you could put a 6" pulley on the transmission output instead of the 3" sprocket and reduce the force to 478 lbs, which can easily be handled by a narrow belt. Of course, you'd also need a 16" diameter rear wheel pulley to replace the current 8" diameter gear to keep the overall gear ratio the same.
So you don't need a wide belt to match the strength of the chain, you just need a larger diameter pulley to lower the force on the belt and then use a thin belt.
I don't know how much power is lost to a belt or a chain drive. You could test this on a Harley, run it on a dyno with the belt drive, change to a chain drive and run it on the dyno again. But I haven't seen this info ever published by a motorcycle magazine. I guess they just don't care about telling us the truth.
The problem with reducing the force on the final drive belt/chain is that current engines aren't designed for a large diameter sprocket/pulley. This would mean a redesign of the EX500 engines, which is probably cost prohibitive.
As far as making your bike wider, well your handlebars are about 26" wide and I don't think they'll become 32" wide with a belt drive. I don't think the 16" wide gas tank will be any wider either. Only the mufflers would have to be redesigned in order to not be wider by an inch or two (they are currently about 26" wide) if a wide belt drive where put on the EX500. If a narrow belt drive is used you wouldn't even notice the extra width of the mufflers.