Friday, August 7, 2026.
Guyana — Small Country, Big Moment
Guyana may be one of South America’s smallest countries by population, but economically, it is playing in an entirely different league these days. With just over one million people, Guyana has rapidly emerged as a major oil-producing nation and one of the fastest-growing economies in the world. The IMF currently projects real GDP growth of approximately 16% in 2026, an extraordinary number by almost any international standard.
The driving force is offshore oil. Production has now climbed above 900,000 barrels per day, with additional projects expected to push output even higher. Perhaps even more significant, the consortium developing the massive Stabroek Block has now recovered its initial development costs sooner than expected, potentially allowing a greater share of future oil revenues to flow to Guyana.
But Guyana’s story is becoming about more than oil. Construction, agriculture, mining, manufacturing and services have also expanded rapidly. Government figures indicate that the non-oil economy grew by more than 14% in 2025, while construction alone expanded by roughly 31%. Billions are being directed toward roads, bridges, energy, housing and other infrastructure as the country attempts to convert its petroleum windfall into longer-term development.
Politically, however, Guyana remains a country worth watching closely. President Irfaan Ali and the PPP/C government face the enormous challenge of managing unprecedented national wealth while addressing concerns surrounding transparency, inequality, the cost of living and whether the benefits of the boom are reaching ordinary Guyanese. The political environment has also been complicated by legal proceedings involving opposition leader Azruddin Mohamed, whose U.S. extradition case concerning allegations of gold smuggling and money laundering continues to move through the courts.
And then there is Guyana’s neighbor to the west. The longstanding territorial dispute with Venezuela over the Essequibo region continues to add a geopolitical dimension to Guyana’s economic rise, particularly because some offshore petroleum areas are affected by the dispute.
For international businesses, investigators and professional service providers, Guyana represents something increasingly rare: a small market undergoing enormous transformation at remarkable speed. Energy, construction, logistics, financial services, compliance, security, infrastructure and professional services are all evolving alongside the economy.
Guyana therefore enters 2026 with an enviable challenge: it has the resources and economic momentum that many countries spend generations trying to achieve. The real test will be what it does with them.
Guyana is no longer simply an emerging market to watch — it is quickly becoming a market that is difficult to ignore.
Brett Mikkelson
Founder, B.M. Investigations, Inc. – Private Investigations in Panama
ExxonMobil Selects Sercel’s Marlin Vessel for Offshore Operations in Guyana
ExxonMobil Global Projects has selected Sercel’s Marlin solution to support the management of simultaneous operations (SIMOPS) for the Whiptail project, located in the Stabroek Block, offshore Guyana.
Under a one-year contract, Sercel will deploy the Marlin platform to support pipeline-laying campaigns and mooring system installation activities for the offshore development project.
According to Sercel, the Marlin platform provides a suite of tools designed to optimize maritime operations. For simultaneous operations (SIMOPS), it offers a real-time geospatial view of concurrent offshore activities, enabling teams to plan, coordinate, and execute operations in high-activity environments.
The deployment includes system configuration, onboarding of new users, operational reviews, and 24/7 operational support.
“With offshore activity accelerating across Latin America, the Middle East, Southeast Asia, and West Africa, our field-proven Marlin SIMOPS solution enables operators to better manage their most complex offshore projects,” said Jérôme Denigot, CEO of Sercel.
The Whiptail project is located in Guyana’s Stabroek Block, where ExxonMobil is conducting offshore development activities.
Guyana Is Becoming the New Oil Star of the Western Hemisphere
Since ExxonMobil discovered significant offshore oil reserves in the Stabroek Block in 2015, Guyana has transformed into one of the fastest-growing crude oil producers in the world.
In less than a decade, its production has risen to more than 600,000 barrels per day, with forecasts pointing to more than one million barrels per day before the end of the decade. For a country of its size, the leap is monumental.
An Oil Boom That Is Changing the Rules
The economic impact has been immediate. Guyana has recorded GDP growth rates exceeding 40% annually in some recent years, figures unprecedented even among emerging economies.
Oil revenues have boosted public reserves and fueled a sovereign wealth fund designed to manage this new source of national wealth.
However, President Irfaan Ali has made it clear that the country’s ambitions extend beyond simply exporting oil. “Our goal is to structurally transform the economy,” he has stated in various public appearances. The message from Georgetown is clear: oil is only the starting point.
The government wants the associated gas from these offshore fields to play a central role in the next phase of development. Rather than exporting the entire resource, the strategy is to bring some of that gas onshore to drive local industry.
Gas as a Bridge to Industrialization
Guyana is preparing a second gas pipeline project even before the first one is fully operational. The plan calls for bringing more gas from ExxonMobil’s offshore fields to the coast, with a development in the Berbice region that could be finalized soon.
The first gas pipeline to bring gas onshore is expected to become operational by the end of this year, supplying approximately 300 megawatts to a new power plant near the capital.
For a country that has experienced high energy costs and periodic power outages for years, this infrastructure represents much more than a technical project. It provides the foundation to reduce electricity prices and improve the competitiveness of local businesses.
The government believes that gas can serve as a catalyst for attracting manufacturing, agro-processing, and eventually petrochemical projects. Potential cooperation with Suriname is also being explored to expand the reach of the second pipeline and turn it into a regional initiative.
The Business Vision and Remaining Challenges
ExxonMobil has expressed its willingness to accelerate gas development, although it acknowledges that the process is more complex than oil extraction.
Dan Ammann, the company’s upstream executive, has explained that the offshore infrastructure is ready, but that onshore power plants, regulatory approvals, and commercial frameworks must advance simultaneously.
In other words, investment will follow as the regulatory and market architecture becomes more established. This coordination between the public and private sectors will be critical to ensuring that Guyana’s industrial leap does not remain merely a promise.
Guyana’s Sustained Growth Sets the Pace for the Caribbean Ahead of SOTIC 2026
Guyana is preparing to take center stage in the international travel sector as it becomes the host of the Caribbean Tourism Organization’s (CTO) State of the Tourism Industry Conference (SOTIC). The event, scheduled to take place from October 5 to 9, 2026, comes at a pivotal moment for the South American nation, which has captured global attention through a highly effective and ambitious development strategy.
The country’s tourism boom was recently highlighted by Minister of Tourism, Industry and Commerce Susan Rodrigues during the Caribbean Week celebration in New York. According to official reports presented at the event, Guyana recorded a historic 453,489 visitors by the end of 2025, representing a 22% increase compared with the figures reported in 2024 and consolidating a sustained growth trend that shows no immediate signs of slowing.
The positive momentum has continued strongly into the current year, according to the latest Tourism Industry Review published by the CTO. During the first quarter of 2026, the country welcomed 107,286 tourists, marking a 12% increase compared with the same period of the previous year. This momentum reflects the destination’s ability to diversify its tourism offering and attract an increasingly global traveler base interested in ecotourism and the authentic experiences the region has to offer.
A breakdown of arrivals shows growing interest from several key source markets that are important to the country’s economy. Arrivals from the Caribbean experienced significant growth of 17.8%, closely followed by the Canadian market at 17.5%, while arrivals from the United States and Europe increased by 5.4% and 4.4%, respectively. These figures demonstrate that promotional policies have been effective across multiple markets.
This success has not been accidental, but rather the result of strategic investments in infrastructure and services over the past several years. Increased air transportation capacity, the addition of nearly 2,500 new hotel rooms since 2022, and the introduction of more than 70 new tourism experiences since 2020 have been key pillars in positioning Guyana as a modern and competitive destination.
Against this backdrop, the country is ready to welcome the leading tourism executives and decision-makers who will shape the future of regional tourism at SOTIC 2026.
IOM Director General Visits Guyana and Highlights Migration as a Driver of Growth
Guyana is one of the fastest-growing economies in the world, and the expansion of its industries is generating an increasing demand for workers. This week, the Director General of the International Organization for Migration (IOM), Amy Pope, visited Guyana to explore opportunities to strengthen IOM support to the Member State in managing migration as a driver of growth.
Guyana’s economy continues to expand rapidly. According to the Bank of Guyana, the country’s real GDP grew by 19.3% in 2025. This growth has been driven by the expansion of the energy, construction, healthcare, and other sectors, creating strong demand for labor that exceeds the domestic labor supply. At the same time, a significant number of Guyanese have emigrated, representing a valuable pool of skills, resources, and networks that the country could benefit from. Together with workers from the Caribbean Community (CARICOM) and the wider region, this represents an opportunity for Guyana to address labor shortages, continue strengthening the capabilities of its national workforce, and establish a robust migration governance system that safeguards the rights and well-being of migrants and Guyanese host communities.
“Migration has always been part of Guyana’s development story,” said Director General Amy Pope. “When managed properly, migration creates opportunities for everyone: local communities, Guyanese returning to the country, and migrants from the region and beyond. Guyana is uniquely positioned to turn migration into a genuine force for development, and IOM is committed to supporting the Government in building practical solutions that deliver tangible results for a broad range of Guyanese society.”
During her visit, Director General Pope met with five government ministers, reflecting the way migration affects multiple areas of society. She also met with migrants and IOM staff working in Guyana and across the Caribbean. The purpose of these meetings was to ensure that migration policies and programs continue to respond to the needs of the people they serve, connecting workers with employment opportunities while protecting migrants’ rights and promoting the well-being of communities.
Director General Pope also met with the Caribbean Community (CARICOM) Secretariat, which is headquartered in Guyana. In her capacity as Coordinator of the United Nations Network on Migration, IOM has been providing technical support to CARICOM, working with Caribbean countries to support the development of a regional migration governance framework. This framework would help strengthen national migration policies capable of addressing both shared migration and labor challenges and each country’s specific priorities, including how states adapt to climate change and the aging of their working-age populations while sustaining economic growth.
IOM has been working in Guyana since 2009, supporting the Government in strengthening migration management in line with its development objectives, expanding opportunities for Guyanese people, and supporting the Government’s commitment to safe, orderly, and regular migration. In this area, IOM draws on its global expertise in areas such as border management, migration data, and the protection and assistance of vulnerable migrants and host communities, helping transform national priorities into concrete action.
