Guyana Points to Non-Oil Investment but Faces Power Equipment Bottleneck
Guyana's government attributed growth outside oil to private investment, with the non-oil economy expanding 10.1% in the first half of 2026. Overall output rose 33.3% over the same period as offshore production increased. A global shortage of gas turbines is complicating plans for new power capacity, though the first turbine at the Wales gas plant is expected in December.
Guyana, home to roughly 800,000 people, has become the Americas’ fastest-growing economy since the Stabroek Block began producing in 2019. Oil dominates exports, with opposition figures putting crude at 92.9% of merchandise shipments, while the non-oil economy expanded 10.1% in the first half of 2026 and total output climbed 33.3%.
Tourism reached 320,174 arrivals by late August 2026, including a record 48,582 that month. The Wales gas-to-energy project’s first turbine is expected in December, but global turbine demand—including from overseas data centres—has created a queue for capacity Guyana needs.
Guyana’s oil-driven expansion could create opportunities for workers, small businesses, farmers, transport providers and tourism operators, but unreliable or costly power may limit how widely those gains spread. Households and existing firms could keep facing outages and high energy expenses if new capacity arrives slowly, while investors may hesitate to build hotels, processing plants or logistics facilities. The pace of the Wales project and efforts to add power capacity may therefore shape whether growth outside oil translates into broader employment, services and living standards.