outlines blueprint for Guyana’s rise as a global events host

By Clestine Juan

GUYANA is set to become the premier entertainment and sports tourism hub, aiming to attract major international events by 2030, with the government strategically channelling the revenue from the oil and gas sector.

Speaking at the Guyana Oil and Gas Energy Chamber’s annual award ceremony, President Dr. Irfaan Ali outlined a strategic plan to leverage the country’s economic growth, driven by the oil and gas sector, to diversify and create a “dynamic economy.”

The President’s comments came on the heels of the successful hosting of Cricket Carnival, which was developed to coincide with the country hosting the entire finals week of the Caribbean Premier League from 2022-24.

The country not only won in terms of keeping the trophy at home after a decade of participation, but the event was a testimony of how a country can win by synchronising its productive sectors with development efforts and the support of corporate Guyana.

“We are working on creating a sports and entertainment hub in Guyana, in which every quarter we must be able to attract a major international event here in Guyana,” President Ali stated.

He emphasised the need to invest in an economy that can accommodate the services and demands of a growing population, even projecting the influx of three million people passing through Guyana’s economy by 2030.

Against this backdrop, President Ali spoke about developing the sports, hospitality, and entertainment sectors, foreseeing them as integral components of Guyana’s economic landscape.

“By 2030, we have to put mechanisms in place and invest in a type of economy that will bring 3,000,000 (3 million) people to pass through our economy to utilise the services that we produce here,” President Ali explained.

One key aspect of this vision involves addressing infrastructural challenges, particularly in the hospitality sector.
President Ali acknowledged past inconveniences, such as delegations having to fly to other countries for accommodations due to limited capacity.

This was due to the increase in visitors who travelled to Guyana for the biggest sporting activity in the Caribbean.

This increase was made evident when the President reported an “embarrassing situation” where the local hotels, guest houses and Bed and Breakfast facilities were all fully booked, triggering difficulties in securing accommodation for visitors.

He stressed the urgency of developing the airlift capacity to accommodate the expected influx of visitors and high-profile delegations.

“This year, we had many embarrassing moments as a government and you too as the private sector. We have delegations that came here and had to fly back to another country to sleep because we did not have room,” President Ali candidly stated.

Looking ahead, he projected a packed agenda with high-level delegations, business groups, trade delegations, and international forums, all intricately linked to the expanding oil and gas sector.

President Ali underlined the significance of diversification and the role of resources and investments in creating a competitive environment.

He said that the revenue generated from the oil and gas sector plays a crucial role in fuelling diversification initiatives.

“Diversification requires resources. It requires investment to create a competitive environment. That is where the revenue from oil and gas becomes important,” President Ali explained.

He explained that his government’s vision aligns with Guyana’s evolving economic landscape, driven by newly found oil and gas resources.

ENCOURAGING PROJECTION

Guyana has seen 40 per cent economic growth over the past three years, and is projected to grow by more than 20 per cent over the next four years,

These projections are based on current proven oil reserves and current Floating Production Storage and Offloading (FPSO) vessels that are in production.
The government has been using these resources to prioritise sports infrastructure development by improving multiple community centre grounds.
In October, the Vigilance Sports Ground Enhancement Programme will feature a new bridge, bleacher, restroom facilities, improved groundwork, building renovations, and the addition of four floodlights for night use.

These enhancements were the result of collaboration among the Office of the President, ExxonMobil, and Cerulean Incorporated.

As a testimony to this, Guyana has been participating in multiple games, both regionally and internationally for the past three years.

Additionally, the Pomeroon-Supenaam region is inching closer to hosting prominent cricket tournaments in 2024 and 2025 as the government is currently engaged in negotiations with Cricket West Indies and the Caribbean Premier League (CPL).

The region is in the final stages of constructing a state-of-the-art stadium at Anna Regina.

The prospect of this stadium has generated considerable interest among cricket enthusiasts, sports fans, and the local community and will position the region to become the ideal place to host international cricket matches.

The stadium is set to not only serve as a venue for thrilling cricket games, but also as a hub for various sports, cultural, and social events. It will help propel the economic and infrastructural development of the region.

Earlier this year, the sod was officially turned for the US$3.5 million Lakeside Hotel which will be erected at Anna Regina. The hotel will have 45 luxurious rooms with all the necessary amenities to match international standards. It will have five floors which will include a lobby area, office, and conference/banquet hall.

These investments outside of central Georgetown are reshaping the region’s hospitality landscape and are set to enhance Guyana’s attractiveness as a destination for both business and leisure travellers.

Additionally, the US$15 million Aiden Hotel, affiliated with Best Western Hotel & Resorts, is taking shape at Robb and Oronoque Streets in Georgetown, with construction set to be finished by January 2024.

Major players in the hotel industry, including Sheraton, The Element, Delta Marriott, Hyatt Hotels Corporation, and Radisson Hotels, have recognised Guyana’s potential and are investing in its vibrant hospitality sector.