BUDGET 2026: $2.2B to complete Hospitality Institute, $1.3B to advance Palmyra Cultural Market

Guyana is set to further strengthen its tourism and creative sectors in 2026, with the completion of the Hospitality and Tourism Institute and the development of the Palmyra Cultural Market among the flagship projects.

A total of $3.7 billion has been budgeted for the Orange Economy this year, building on $3.6 billion spent in 2025.

Presenting Budget 2026 in the National Assembly on Monday, Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, highlighted the Government’s commitment to creating jobs, expanding opportunities, and empowering communities through tourism and culture.

The Hospitality and Tourism Institute, set to open in 2026, will train over 700 individuals, addressing workforce needs in the country’s growing tourism sector. Meanwhile, the Palmyra Cultural Market, with $1.3 billion allocated, will serve as a vibrant hub for creative expression, cultural exchange, and the promotion of local artistry.

Tourism in Guyana reached a record 453,489 visitors in 2025, supported by a 42 percent expansion in accommodation over the past five years, including 738 rooms added in 2025 alone. By the end of 2026, total room stock is expected to exceed 5,600, up from 3,280 in 2020, complemented by 115 registered Airbnb establishments offering 544 rooms.

Connectivity improvements have also expanded, with KLM Royal Dutch Airlines adding 1,650 weekly seats to Amsterdam and Air Transat offering twice-weekly flights to Toronto with 796 additional seats, with discussions ongoing with other carriers.

Diversifying tourism products remains central to the Government’s strategy, with new community-led and experiential offerings launched across 56 communities in 2025, alongside initiatives targeting conferences, weddings, reunions, and niche cultural and sporting events.

On the cultural side, Government continues to invest in Guyana’s creative talent through recording studios, festivals, and events. In 2025 alone, over 80 events were hosted, engaging more than 500 artistes, with three new recording studios under construction in Bayroc, Reliance, and Uitvlugt.

Dr. Singh emphasised that these initiatives, combined with digital platforms for creators, will position Guyana as a Caribbean leader in the creative cultural industries, leveraging its rich cultural heritage and diverse artistic traditions to drive economic growth through the Orange Economy.