The Emerging Latin American Nation Known as “the Dubai of the Region”
In a little-explored corner of South America, a country that went unnoticed for decades is now emerging as one of the most dynamic economies on the planet. The key to its success? Oil. But what’s truly surprising isn’t just the size of its reserves, but how quickly it’s transforming its economic and social landscape.
Unprecedented Boom in South America
Independent since 1966, Guyana has gone from a nation with limited resources to an emerging powerhouse due to the discovery of massive offshore oil reserves. Estimates show that its economic growth not only surpasses that of the rest of South America, but also rivals that of developed countries. The numbers are staggering: over 11,000 million barrels confirmed, with projections that raise that figure to 17,000 million. This wealth has boosted exports and attracted foreign investments that are reshaping the country’s infrastructure.
Building a New Identity
Roads, ports, and energy projects are changing the daily life of Guyanese people, creating jobs and enhancing regional connectivity. The stability derived from this prosperity also allows for the implementation of social programs and sustainable development strategies, crucial to avoid the so-called “resource curse.” Paulo Guedes, former Economy Minister of Brazil, draws a parallel that reflects both the oil boom and the potential for diversification into sectors like financial services and trade.
A Model for Other Emerging Economies
Guyana stands out in a context where other countries are also experiencing significant growth, albeit to a lesser extent. However, the combination of natural resources, strategic planning, and political stability places Guyana in a different position: as a South American economic laboratory that surprises the world. Its story serves as a reminder that, with vision and above all transparency, even small countries can rewrite their destiny and become global references.
