$125 Million to Expand ICT Access in Hinterland and Poor Communities by 2025

The Guyanese government has set aside $125 million for 2025 to expand access to Information and Communication Technologies (ICT) in remote and underserved communities. Prime Minister Mark Phillips confirmed the funding would support the construction and maintenance of ICT hubs across the country, with a goal to build 200 hubs by 2025. Over $1 billion has already been invested in Amerindian communities as part of this initiative, aiming to bridge the digital divide and provide internet access to nearly 100,000 residents in rural areas.

Over 3,500 Graduates to Boost Guyana’s Workforce and Economy

The University of Guyana’s record-breaking graduation of 3,500 students this November comes at a critical time for the country’s rapidly expanding economy. The graduates, many from new programs like Biodiversity and Environmental Health, will contribute essential skills to Guyana’s growing sectors, including oil and gas, healthcare, and environmental management. This milestone highlights the university's role as a key development partner, providing talent for both the public and private sectors.

Business Opportunities Based On Today’s Developments

Small Enterprises

1. Tourism Services for Growing Visitor Influx

   • Opportunity: With Guyana on track to surpass one million visitors in 2024, there is a prime opportunity for small enterprises to cater to niche tourism services, such as guided eco-tours, cultural experiences, or transport services.

   • Potential Services: Specialized tours highlighting Guyana’s natural beauty, such as rainforest excursions, birdwatching, or heritage tours for visitors interested in history.

   • Notes: Small enterprises can partner with hotels and travel agencies to create package deals. Also, collaborating with the government on sustainable tourism initiatives could create a unique selling point (USP).

2. Graduation-Related Services

   • Opportunity: With 3,500 students graduating from the University of Guyana, businesses offering event planning, catering, or personalized gift services can tap into the demand from families and students celebrating this milestone.

   • Potential Services: Custom memorabilia like engraved plaques, photography services, or small-scale catering for graduation parties.

   • Notes: Leverage partnerships with venues near the University’s campus or within Berbice to offer comprehensive packages for ceremonies or parties.

3. ICT and Digital Literacy Training

   • Opportunity: With the government’s significant investment in ICT hubs across rural communities, there is a growing need for digital literacy programs and basic IT services.

   • Potential Services: Small enterprises can offer training programs on how to use computers, basic software, and internet applications. Additionally, providing basic computer repairs and tech support in remote regions is a niche.

   • Notes: These training programs can be government-subsidized or partnered with larger companies that want to show community impact as part of their corporate social responsibility (CSR).

4. Food and Beverage at Regional Events

   • Opportunity: The annual Regional Food Festival showcases culinary talents, creating a great environment for small food vendors to sell local dishes, artisanal products, or unique cultural foods like sea moss gel or Surinamese food.

   • Potential Services: Mobile food stalls or pop-up eateries offering specialized dishes that capitalize on the growing demand for local cuisine.

   • Notes: Focus on integrating sustainability into your packaging and sourcing, as eco-conscious travelers and festival attendees value sustainability.

Medium Enterprises

1. Event Management and Promotion for Tourism and Graduations

   • Opportunity: The booming tourism industry and record graduation numbers create space for medium-sized event management firms to handle large-scale events, from corporate gatherings to public festivals and graduation ceremonies.

   • Potential Services: Full-service event planning, including venue coordination, décor, entertainment, and PR management for graduation events or large festivals like CPL or the Regional Food Fair.

   • Notes: Offering packages for corporate or academic institutions could bring long-term contracts, and partnering with local hotels or tourist services could increase your market reach.

2. ICT Solutions for Rural Connectivity

   • Opportunity: With the government investing heavily in ICT infrastructure, medium enterprises specializing in IT services can explore opportunities to provide software solutions, cybersecurity, or the installation of systems in rural areas.

   • Potential Services: Developing and deploying digital tools for ICT hubs, providing cybersecurity measures for new hubs, or training local IT managers.

   • Notes: Ensure solutions are scalable, as the government plans to install 200 ICT hubs by 2025. Focus on providing tech support and service contracts to ensure consistent revenue.

3. Eco-Tourism Accommodation

   • Opportunity: The significant rise in tourist numbers provides an opportunity for mid-sized businesses to invest in eco-friendly lodges or boutique hotels catering to both business travelers and tourists.

   • Potential Services: Building eco-lodges with sustainable materials or repurposing existing buildings into unique tourist accommodation options like treehouse-style hotels, jungle lodges, or riverfront bungalows.

   • Notes: Eco-tourism is growing globally, and an emphasis on sustainability, locally sourced products, and an authentic Guyanese experience will be key differentiators. Tying this in with partnerships for niche eco-tourism experiences (bird-watching, wildlife photography, etc.) will add value.

4. Educational Support Services

   • Opportunity: The University of Guyana is graduating a large number of students, many of whom will need tutoring, career counseling, or job placement services.

   • Potential Services: Medium-sized enterprises can offer targeted educational support programs such as job readiness training, CV/resume writing workshops, or career placement services tailored to emerging sectors like oil and gas, environmental engineering, and IT.

   • Notes: This could also include partnerships with larger corporations looking to recruit graduates, offering placement services in exchange for a recruitment fee.

Large Enterprises

1. Oil and Gas Exploration Services

   • Opportunity: With the Guyana government advancing its 3D seismic survey and upcoming bidding rounds, large enterprises in the oil and gas sector can position themselves for high-impact exploration and development projects.

   • Potential Services: Exploration services, seismic data analysis, drilling, and development of oil blocks, as well as downstream services like refining, storage, and distribution.

   • Notes: Guyana’s oil industry is rapidly expanding, and large international firms should consider joint ventures with local companies to meet local content requirements. The government's push for local involvement in the sector could open doors for partnerships with Guyanese firms.

2. ICT Infrastructure Development and Management

   • Opportunity: With the $125 million investment in ICT access for hinterland and rural communities, large enterprises specializing in telecommunications and IT infrastructure could secure government contracts to build and maintain ICT hubs.

   • Potential Services: Building large-scale ICT infrastructure, including high-speed internet, satellite communications (like Starlink devices), and IT management for remote communities.

   • Notes: Long-term contracts for maintaining and upgrading ICT hubs could be highly lucrative. Additionally, enterprises should explore partnerships with government bodies to offer affordable service plans that increase digital accessibility.

3. Luxury Tourism and Hotel Chains

   • Opportunity: The sharp rise in tourism numbers makes Guyana a ripe market for large hotel chains or luxury resort developers.

   • Potential Services: Development of luxury hotels or resorts that cater to high-end travelers, business tourists, or eco-conscious visitors. This could include all-inclusive resorts, wellness retreats, or business hotels near tourist hotspots or industrial hubs.

   • Notes: Partnering with the government on sustainable tourism efforts could provide tax incentives or subsidies. Emphasizing sustainable and eco-friendly practices will be essential as Guyana markets itself as an eco-tourism destination.

4. Corporate Real Estate Development for ICT and Tourism

   • Opportunity: The government’s push for expanding ICT and tourism industries also presents opportunities for large-scale real estate development, especially in urban and industrial zones.

   • Potential Services: Developing commercial office space tailored for ICT companies or tech start-ups, mixed-use developments combining office space, retail, and hospitality, and logistics hubs for tourism companies.

   • Notes: With Georgetown expanding rapidly, developing office parks or mixed-use commercial spaces will cater to the growing demand for business infrastructure. This can be a long-term play, benefiting from both ICT growth and tourism investment.

Final Thoughts

Guyana’s rapid economic expansion, driven by tourism, ICT, and the oil sector, offers a wide array of business opportunities for enterprises of all sizes. Small businesses can tap into the tourism and graduation markets with niche services, while medium enterprises can provide ICT support, eco-tourism accommodations, and educational services. Large enterprises should look at investing in oil exploration, ICT infrastructure, and luxury tourism accommodations to take advantage of government incentives and the country’s upward economic trajectory. Collaboration with government and alignment with sustainable practices will be key to success in this evolving marketplace.

Side Hustle Ideas Based On Today’s Developments

1. Tourist Guide for Niche Experiences

• Opportunity: With over one million visitors expected in 2024, there’s a demand for unique, niche experiences that go beyond traditional tours. Locals with knowledge of Guyana’s rich history, wildlife, and hidden gems can offer curated experiences for tourists.

• Idea: Start a side hustle as a niche tour guide. This could range from eco-tourism (bird watching, jungle hikes) to cultural experiences (heritage walks, culinary tours, or city tours showcasing local architecture and history). You can partner with hotels or online platforms like Airbnb Experiences.

• Why it’s High-Value: Eco-tourism and bespoke experiences often attract higher-paying travelers looking for authentic, off-the-beaten-path adventures. As oil brings in wealthier business travelers, there’s room to cater to an upscale audience.

2. ICT Trainer for Rural Areas

• Opportunity: With the government investing $125 million into ICT hubs in remote and hinterland areas, there’s a growing need for tech-savvy individuals to train others in digital literacy.

• Idea: Offer digital skills training as a side hustle, particularly in areas like basic computer use, social media for business, or even online entrepreneurship. You can conduct workshops at local ICT hubs or offer private lessons.

• Why it’s High-Value: The digital divide in rural areas creates an opportunity to provide valuable, marketable skills. As Guyana’s economy expands, more businesses and individuals will need to embrace digital tools, creating high demand for digital education.

3. Sustainable Product Development (Eco-Friendly Packaging or Goods)

• Opportunity: With growing environmental awareness, there’s a demand for eco-friendly products, especially within the food and hospitality sectors that are booming alongside tourism.

• Idea: Develop and sell sustainable packaging solutions (e.g., biodegradable containers for food vendors) or eco-friendly local goods (e.g., reusable straws, bags, or locally made products from natural materials).

• Why it’s High-Value: As businesses, particularly in tourism, increasingly adopt sustainability measures, they will look for local suppliers who can meet these needs. With rising environmental consciousness globally, this side hustle could easily expand.

These side hustles tap into Guyana’s economic growth while offering flexibility for people with full-time jobs looking to capitalize on the country’s booming sectors.