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Shukura Resort is set on a 47-acre site in Guyana’s rain forest. On this site a world class eco adventure and spa resort will be sustainably developed to create a high quality tourism experience within Guyana’s natural environment. The resort will rely on 100 percent self-sufficient energy, with all water and electricity originating from the resort’s natural springs and a combination of renewable energy power sources. It will also feature state of the art security and waste management systems to allow visitors to relax and enjoy privacy in unique surroundings with the minimal environmental impact.

The resort will consist of 52 positive energy low cost luxury homes for sale as residential properties, 45 luxury log cabins for rental, water parks and eco-spa, a kids amusement theme park, running and bike trails, a 9-hole golf course and an open air entertainment sand theatre.

The resort will be unique in Guyana and offer year-round revenue streams. The project requires initial seed funding of US$275,000 for the development of two prototype positive energy low cost Luxury homes for sale, twenty thatched roofed Log Cabins for rental purposes, landscaping and water park, parking lot expansion & BMX Bike trail resurfacing, solar/bio mass power system, high speed internet installation, promotion and marketing and working capital.

Sector Strengths

Guyana’s Growing Tourism Market

  • Guyana has established itself as a key destination for adventure tourism and eco-tourism. The landscape creates an ideal setting with pristine Amazonian rainforests, immense waterfalls, and amazing wildlife. This is blended with a vibrant indigenous culture, rich heritage and hospitable and friendly people, to create a rich tourism experience.
  • Guyana received 177,000 international visitors in 2012, a 12.7% increase on the previous year.[1] Expenditure on tourism has also experienced growth with international tourism receipts reaching US$77 million in 2013, a 20% increase on 2012.
  • However, the country has considerable untapped potential in overseas markets. Only 38.9% of tourism spending was from foreign visitors with the rest coming from the domestic market.[2]
  • Tourism in Guyana is expected to continue to show growth. International visitor numbers are forecast to exceed 260,000 by 2025.[3]

Regional Industry

  • In 2012 approximately 26.3 million people travelled to the Caribbean.
  • Increases are attributed in part to improvements at airports around the region, the opening of new hotel chains, and an increase in direct flights and airline seat capacity.
  • Tourists overall spent more than $29 billion in the Caribbean in 2014, an increase of more than $1 billion over the previous year.

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[1]World Development Indicators
[2] WTTC Travel & Tourism Economic Impact 2015
[3]WTTC Travel & Tourism Economic Impact 2015

Investor Testimonials

“Guyana is an upcoming country that has a stable economy… The government of Guyana has been extremely supportive and has demonstrated that it is investor friendly”

Bhushan Chandna, Director of Sun & Sand Group of Companies
Incentives

Guyana offers a wide range of incentives to foreign investors. These include:

  • Exemption from Customs Duty on most plant machinery and equipment
  • Exemption from Customs Duty on raw materials and packaging materials used in the production of goods by manufacturers
  • Exemption from Customs Duty and zero rate of Value-Added-Tax on raw materials and packaging for manufactures who export 50 percent or more of their products
  • Unlimited carryover of losses from previous years
  • Accelerated depreciation on plant and machinery for approved activities
  • Full and unrestricted repatriation of capital, profits and dividends
  • Benefits of double taxation treaties with the UK , Canada, Kuwait and Caricom countries
  • Exemption from Customs Duty and zero rate of Value-Added-Tax on items approved under an Investment Agreement between the Government and the business
  • Exemption from Excise Tax on items approved under an Investment Agreement between the Government and the business
  • Zero rate of Value-Added-Tax on exports.
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Indicators for Labour Costs

Data Point Value Units Year
Labour costs (minimum wage USD per month)1 166 US dollar per month 2015
Social security contributions (employer) %2 8.4 Percentage 2014

1 - World Bank Doing Business
2 - EY Worldwide Personal Tax Guide 2014/15

Indicators for Utility Costs

Data Point Value Units Year
Electricity cost1 307.8 US dollar per Megawatt per hours 2015
Water cost - The cost for water for industrial use per cubic meter2 0.3 US$/m3 2007
Telecom cost - The cost charged by a leading telecom operator for a 1 minute call to USA3 0.003 USD per minute 2013

1 - Climatescope
2 - Corporacion del acueducto y Acantarillado de Santo Domingo
3 - International Telecommunication Union - ITU

Indicators for Property Costs

Indicators for Taxes

Data Point Value Units Year
Data Point Value Units Year
Top personal tax rate (%)1 33.3 Percentage 2015

1 - The Heritage Foundation

Indicators for Exports

Data Point Value Units Year
Travel services (% of commercial service exports)1 46.6 Percentage 2013

1 - World Development Indicators

Indicators for Track Record

Data Point Value Units Year
Number of companies in hotels1 3 Number of companies 2016
Number of companies in leisure and entertainment1 3 Number of companies 2016

1 - fDi Intelligence from the Financial Times

Indicators for Attractiveness

Data Point Value Units Year
International tourism, number of arrivals per capita1 0.23 Arrivals 2013
Expenditure per visitor2 435 US dollar 2013
Environmental Performance Index3 71.1 Index 2016

1 - fDi Intelligence from the Financial Times based on World Development Indicators
2 - The Travel & Tourism Competitiveness Report, World Economic Forum
3 - Yale University

Guyana Office for Investment

190 Camp & Church Streets

Georgetown

Guyana

P: +592-225-0658 or +596-227-0653