Market Research in Guyana

The beautiful country of Guyana is well-known across the world for its culture. Also, the rainforest, English-speaking, cricket, and calypso music draw people. Guyana lies along the coast of northern South America. The country broke free from the United Kingdom on May 26, 1966, and became a republic on Feb. 23, 1970. After living under Dutch control for many years, it further went on to join the Union of South American Nations as a founding member.

Today the country holds its own among the many nations on the continent. Also, it is the only country in that region where English is the official language. Guyana is a proud member of the Caribbean Community (CARICOM). Furthermore, it holds the principal office of CARICOM in its capital Georgetown. Besides that, Guyana has had excellent relations with China since the 1970s. In fact, it was the first country in the English-speaking Caribbean to have such ties.

The country has a rich and mixed history as a British colony. The region is home to people from Africa, India, France, The Netherlands, and Portugal. Of course, there are also those of Native heritage.

Neighborhoods

Georgetown is the capital and the primary manufacturing and commercial center in the country. The city has many old British and Dutch-style buildings. Being the central city, Georgetown has many things to do. It always has new things to try and even more places to discover.

Apart from the capital, there are many other well-known areas. These include Demerara, Bush Lot, and the infamous Jonestown (made famous by Jim Jones in the 1970s).

Key Industries

Guyana’s primary industries are agro-processing and mining of gold and diamonds. The products produced from agro-processing come from rice, timber, and coconut. There are also light manufacturing sectors, textiles, and pharmaceuticals here and there. Both state and private companies own these entities.

Yet, the best assets have been its natural resources. Some natural resources are rainforests, sugarcane plantations, and rice fields. The country also has bauxite, oil, and gold reserves.

Trends

The country is currently among the fastest-growing in the world. Its GDP is spiking due to the rapid development of its offshore oil-and-gas sector.

Growth depends on a country’s natural resources. Farming and mining are the most critical activities in Guyana, but sugar, bauxite, rice, and gold make up more than half of the export earnings.

Consumer Base

The country is full of eager workers, and they love winding down for a good party with food. They also enjoy activities like cricket and street parades. People work hard on the land and elsewhere to earn money to enjoy their hobbies and life outside of work.

Reasons to Start a Business in Guyana

As Guyana continues to grow, more open avenues are coming about. Also, due to its location in South America, the country has excellent ties with the US. The quality of the goods and services is high. It motivates firms and consumers to continue purchasing.

Other reasons to start a business in Guyana include:

• Open investment markets
• Many natural resources
• English is the official language.
• Low operating costs

About market research in Guyana

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