Guyana’s Growing Tourism Market

• Guyana has established itself as a key destination for adventure tourism and eco-tourism. The landscape creates an ideal setting with pristine Amazonian rainforests, immense waterfalls, and amazing wildlife. This is blended with a vibrant indigenous culture, rich heritage and hospitable and friendly people, to create a rich tourism experience.
• Guyana received 177,000 international visitors in 2012, a 12.7% increase on the previous year.^[1] Expenditure on tourism has also experienced growth with international tourism receipts reaching US$77 million in 2013, a 20% increase on 2012.
• However, the country has considerable untapped potential in overseas markets. Only 38.9% of tourism spending was from foreign visitors with the rest coming from the domestic market.^[2]
• Tourism in Guyana is expected to continue to show growth. International visitor numbers are forecast to exceed 260,000 by 2025.^[3]

Regional Industry

• In 2012 approximately 26.3 million people travelled to the Caribbean.
• Increases are attributed in part to improvements at airports around the region, the opening of new hotel chains, and an increase in direct flights and airline seat capacity.
• Tourists overall spent more than $29 billion in the Caribbean in 2014, an increase of more than $1 billion over the previous year.

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^[1]World Development Indicators
^[2] WTTC Travel & Tourism Economic Impact 2015
^[3]WTTC Travel & Tourism Economic Impact 2015

Guyana offers a wide range of incentives to foreign investors. These include:

• Exemption from Customs Duty on most plant machinery and equipment
• Exemption from Customs Duty on raw materials and packaging materials used in the production of goods by manufacturers
• Exemption from Customs Duty and zero rate of Value-Added-Tax on raw materials and packaging for manufactures who export 50 percent or more of their products
• Unlimited carryover of losses from previous years
• Accelerated depreciation on plant and machinery for approved activities
• Full and unrestricted repatriation of capital, profits and dividends
• Benefits of double taxation treaties with the UK , Canada, Kuwait and Caricom countries
• Exemption from Customs Duty and zero rate of Value-Added-Tax on items approved under an Investment Agreement between the Government and the business
• Exemption from Excise Tax on items approved under an Investment Agreement between the Government and the business
• Zero rate of Value-Added-Tax on exports.