With its strategic location on the Atlantic coast of South America, Guyana’s ports offer a gateway to both the rest of the continent and the Caribbean region to the north, making them an attractive nexus for shipping and other global logistics operations, but that opportunity is just the tip of the iceberg when it comes to reasons why you should consider operating in the country. Many investors looking for an entry to South American investment wonder which country to start with, since the governments in the region are so solidly independent. Many choose to go where they can find responsive support services, such as those offered by GBTI Bank.
While trade deals exist and continent-wide business concerns are common, setting one up is not as seamless as in consolidated economies like the European Union. As a result, your continent-wide headquarters might not necessarily be in the same country where most of your contracts and income streams thrive. Guyana’s wide range of opportunities make it attractive as that kind of base, because you can build thriving businesses in several industries in the country before branching out to a wider South American operation. Here are some starting points to consider.
1. Agribusiness in Guyana Is Booming
The country has both extensive well-irrigated cropland and savannas that yield meat for market, which allows Guyana’s agricultural industry to serve not only the local demand for fresh fruit and vegetables, but the demand for ingredients for food processors that service the Caribbean. Fruit and vegetable exports to the rest of the continent are also quite lucrative, and the local farming community is enthusiastic and trainable, making it easy to line up the growers you need if you are looking for a supply network for your own food processing company. Whether you are investing in growing, processing, or export, there are a lot of ways to make money by making the food the region needs.
2. Mining and Resource Extraction
The mining industry in Guyana is relatively mature compared to most of the rest of the country’s economy, but rising global prices for gold and increased bauxite demand in recent years have been driving profits in the sector and creating opportunities for new investors. Most notably, the combination of new gold deposits in excess of 1 million ounces and rising global prices that changed the profitability of existing deposits have created a renewed interest in gold extraction locally. Guyana mining concerns also pursue diamonds and other natural resources in the area. For more information about opportunities for investment, connect with local businesses pursuing funding and learn about what they have discovered, what they need to get started, and what they want in a business partner.
3. IT Services
Call center operations are one of the most common IT services outsourced to countries like Guyana with rapidly developing infrastructure and favorable business regulations. Being in the same time zone as sections of larger nations like Canada or the U.S. means being able to serve as an outside contractor handling those labor-intensive support operations for foreign companies. On top of that, local IT services support developing businesses in Guyana and neighboring countries by providing tech support, cloud data services, and other important technological infrastructure pieces to other companies in a variety of industries. Position your tech business to take advantage of all the emerging economies in the area by setting up shop in a hub where you can network with other entrepreneurs.
4. Seafood and Aquaculture
It’s not just fruits, veggies, and inland game that drive Guyana’s food production economy. Local aquaculture and seafood concerns are also helping keep the region fed while producing delicacies that are enjoyed around the world, and there are opportunities for companies that want to efficiently distribute those local catches to the markets that crave them. Tilapia fish farms, deep water fisheries, and opportunities in the processing and preparation of seafood all provide lucrative opportunities for new investors.
5. Tourism
When you have a country that enjoys diverse natural resources, a great location that allows it to serve as a travel nexus, and a warm, welcoming climate, tourism is always a factor in the economy. In Guyana, the industry has traditionally served expats coming home, business visitors from abroad, or returning diaspora members, but that has been changing in recent years. Both eco-tourism and cultural tourism are increasing demand for tours located in the area, combining green accommodations with educational opportunities that put visitors in touch with the history of the area and its people. This demand is expected to increase, as is the tourist traffic from business visitors. Local economic developments are bringing in the professionals who also need recreation, and they are in turn helping with the word of mouth spread of the other opportunities for vacations and holidays in the country.
Launch Your South American Business Empire
The rapid economic development in Guyana is hardly surprising. Not only have local institutions like GBTI Bank been doing what they can to encourage local entrepreneurship, the government’s economic incentives are responding to rapid infrastructure changes in nearby nations that are helping drive the entire regional economy. Now is not only a good time to invest in Guyana, but in business concerns across the continent. Start your investment empire in a cradle of opportunity and see what happens as you get opportunities in emerging industries across the region.