Guyana: A Primer on a Strategic U.S. Caribbean & South American Ally
Welcome to the second of our five-part blog series about Guyana, an American ally that has emerged as one of the fastest-growing economies in the world, driven by an oil boom that has transformed the country’s economic trajectory. Read Part 1 here.
Key Takeaways from Part 2 are:
- Guyana attracted $7.2 billion in FDI in 2023, fueling major projects in infrastructure, healthcare, real estate, and hospitality, with significant contributions from China, Qatar, Brazil, Austria, and the U.S.
- Visitor arrivals surged to 371,272 in 2024, prompting global hotel chains to add 1,300 rooms by 2026 and the government to launch hospitality training programs and build a National Hospitality Training Institution.
- Despite rapid development, poor infrastructure outside Georgetown and limited digital booking capabilities for tour operators hinder access to top destinations, posing challenges for high-end tourism growth.
Part 3, slated for release on December 8, 2025, will focus on recent changes enacted by Guyana to modernize its regulatory framework.
Guyana’s Energy and Infrastructure Boom
In 2023, Guyana attracted $7.2 billion in foreign direct investment. Sustaining the oil and gas industries in Guyana has brought a tremendous boon to other sectors servicing ExxonMobil and foreign investors, leading to significant development of, and foreign funding towards, infrastructure (predominantly roads and bridges), commercial and residential real estate), hospitality, tourism, and healthcare. With respect to infrastructure, China has been a longstanding investor via its broad “Belt and Road Initiative.” Through this initiative, China has funded renovations to the Cheddi Jagan International Airport and is building a new Demerara River bridge. Chinese firms are also active in the mining and commercial real estate sectors. Zijin Mining, for instance, acquired goldfields in 2020 and is expanding into lithium and rare earth minerals.
Other countries, including Qatar, have their eyes on investing in Guyana. Qatar’s Assets Group, Inc., for example, is developing a $300 million Seafront Resort and Convention Center in the country’s capital, Georgetown. Brazilian firms are involved in various highway projects to help connect Guyana and Brazil and enhance regional trade. Austria’s Vamed Engineering is constructing two major hospitals, including a $161 million facility in New Amsterdam. The United States is backing a $2 billion Gas-to-Energy project, supported by a $500 million loan guarantee from the U.S. Export-Import Bank, to reduce electricity costs and emissions, increase power generation capacity, reduce reliance on imported fuels, and create opportunities for industrial development and exports.
Guyana’s tourism sector is also ramping up to meet predicted future needs. In 2024, visitor arrivals reached a record 371,272, a significant increase from 82,000 in 2020. A surge in hotel construction has occurred in the past few years, with Aiden by Best Western, Four Points by Sheraton, AC Marriott, Hyatt Place, and Courtyard by Marriott making plans to add 1,300 rooms within the Georgetown area by 2026. The Four Points is set to become the first EDGE Advanced-certified hotel in the Caribbean, based on its energy-efficient and sustainable practices. To help train the more than 22,000 individuals projected to work in the hospitality industry, the government has rolled out workforce training programs and begun the construction of a National Hospitality Training Institution.
The government is also promoting interconnectedness among hotels, tour operators, and local businesses to improve consistency among tourism experiences and counteract perceived concerns regarding safety, infrastructure, and accessibility. Indeed, while tourism is on the rise, infrastructure outside the capital city of Georgetown and major villages remains poor, making it difficult to reach would-be tourist destinations like Kaieteur Falls, the Iwokrama Rainforest, and the Rupununi Savannahs. Additionally, many outfitters also lack proper technology systems for website bookings and credit card payments, making the accessibility of organizing a trip difficult for non-Guyanese or those seeking a higher-end customer experience.
