Minister of Tourism Industry and Commerce Oneidge Walrond says the country’s Tourism sector raked in more than $13 Billion last year, crediting its success to private sector investment.

During her contribution to the budget debate on Monday, the Tourism Minister noted that due to the expansion of the sector, there has also been an increase in job creation, with the Tourism and services sectors directly, or indirectly employing more than 22,000 Guyanese.

“For hotels, we have seen more than $35 billion of investment; lodges have seen $21 million dollars in investment resorts $200 million, local airlines $600 million, malls $12 billion with a total investment by the private sector of almost $50 billion,” the Minister noted.

The Tourism Minister said the criticisms against the Government’s Expressions of Interest for internationally branded hotels are unjustified, noting the sharp increase in demand for hotel rooms.

She said in 2023, room occupancy reached 83%, and grew by a further 5% in 2024, with similar increases in smaller segments of the hospitality sector.

She also noted the expansion of Guyana’s room stock between 2020 and 2024, with the addition of four new hotels and 561 rooms, including facilities in Regions 2, 6, 7, and 10.

Opposition Member of Parliament Juretha Fernandes last week said the country’s Tourism sector was in tatters and it was an expense for locals to participate in activities in their own country.

But the Minister noted that the Tourism sector has been contributing significantly to locals and local economy.

She also said the increase in visitors’ arrival is testament that the country and its Tourism products are attractive.

“Our coordinated and purposeful work has resulted in visitor arrivals setting an all-time record of 371,272 in the year 2024.  This is more than 4 times the level of 82,000 recorded in 2020.  It exceeds by over 16 percent last year’s record-setting performance of 319,000,” she stated.

On the question of small businesses, the Minister noted that there has been a sharp increase in small business across the country that have been benefitting from Government contracts. She said there were an additional two hundred small businesses registered last year.

“Many of these people are first-time contractors, and absent our deliberate policy of facilitation and community empowerment, they would not have had the opportunities that they do today,”the Minister stated.

She also highlighted the global recognition Guyana has received through numerous travel awards, coupled with improved air connectivity due to multiple airlines entering the market and launching new routes.

“Our coordinated and purposeful work has resulted in visitor arrivals setting an all-time record of 371,272 in the year 2024.  This is more than 4 times the level of 82,000 recorded in 2020.  It exceeds by over 16 percent last year’s record-setting performance of 319,000,” she stated.

The Government intends to continue with major investments in the tourism sector.

Related posts:

Government spent $376.4 Billion more than it earned in 2024 Local suppliers in Oil and Gas Sector have earned over $140 Billion since 2015; Guyanese represent 64% of oil sector workforce – ExxonMobil Major expansion in tourism sector being pursued -Tourism Minister Over $266.7 Billion granted in tax exemptions in 2021; -11 Billion more than GRA earned