On Tuesday, Minister of Tourism, Industry and Commerce, Susan Rodrigues, presented a comprehensive outline of initiatives under Budget 2026 aimed at enhancing tourism, bolstering small and medium-sized businesses, improving transport infrastructure, and alleviating the cost of living for Guyanese citizens.
During the second day of the Budget 2026 debates in the National Assembly, Rodrigues emphasized that the budget serves as a critical vehicle for implementing the government’s commitments for 2025–2030, centered on people-focused development.
She reported a substantial economic growth of 19.3% in 2025, driven by a 14.3% expansion in the non-oil sectors, including agriculture, construction, mining, manufacturing, and services.
Key Measures for Economic Relief
Rodrigues highlighted several initiatives aimed at reducing financial burdens on households:
A $100,000 cash grant for adult citizens
Subsidized fuel and cheaper electricity
Increased pensions and public assistance
A higher income tax threshold set at $104,000 per month
Higher stipends for Community Service Officers and Community Policing Groups
Advancements in Tourism
The minister noted that tourism has solidified its position as a key pillar of national development, with a significant rise in visitor arrivals—453,408 recorded in 2025, a 22% increase from the previous year. To foster this growth, several tourism-focused measures were introduced:
- Removal of excise taxes on all-terrain vehicles and outboard engines up to 150 horsepower
- Introduction of flat-rated taxes on heavy-duty vehicles
- Ongoing expansion and rehabilitation of hinterland and coastal airstrips
- Completion of the new arrival terminal at Cheddi Jagan International Airport
- Major allocations for roads and bridges, including corridor and highway projects
These efforts aim to lower operating costs for tour operators and enhance access to domestic travel.
Growth in Accommodations and Training
Rodrigues reported the introduction of 15 new experiential tourism offerings in 2025, boosting the total to 79 since 2020, particularly in eco-tourism and cultural experiences. Additionally, hotel capacity grew with new brands adding 738 rooms, and over 1,000 more are expected in 2026, raising total accommodations to over 5,600.
The World-Class Tourism and Hospitality Institute is set to be completed this year, strengthening training and service standards, with over 8,000 individuals trained in the tourism and hospitality sector since 2020.
New Initiatives and Support for SMEs
New initiatives such as the Guyana Fashion Festival and the One Guyana Worship Experience were announced, alongside a reduction in residency requirements for destination weddings to enhance revenue streams for small businesses.
A major highlight of Budget 2026 is the establishment of an SME Development Bank, supported by a $100 million fund to provide small and medium enterprises with access to interest-free and collateral-free loans up to $3 billion, with potential co-financing opportunities.
Other measures include:
- Creation of special investment zones
- Expansion of export allowances for value-added timber products
- Removal of excise tax on locally made furniture
- Elimination of corporate taxes on agriculture and agro-processing activities
Impact on Communities
The Small Business Bureau is intensifying its focus on community-level projects, with the expectation of impacting approximately 1,500 beneficiaries in 2026 through development grants. Furthermore, the Loan Guarantee Programme benefited 202 businesses in 2025, representing investments exceeding $270 million, with government support covering up to 70% of collateral for loans up to $30 million.
Rodrigues concluded that Budget 2026 reflects an integrated approach linking tourism, industry, and commerce, aimed at fostering inclusive economic growth and improving the quality of life for all Guyanese citizens.
