Tourism, hospitality association welcomes Budget 2026 measures
As private agencies and organisations continue to give the 2026 budget a thumbs up, the Tourism and Hospitality Association of Guyana (THAG) has been the latest to commend the fiscal package for measures aimed at strengthening the tourism sector.
Speaking with the Department of Public Information (DPI) on Wednesday, THAG’s President Mitra Ramkumar noted that Budget 2026 creates an enabling environment for businesses to grow and for people to prosper.
He pointed out that the absence of new taxes is a major positive, and highlighted key measures that support the expansion of tourism businesses, including continued investments in roads, bridges and airstrips, which improve access to tourism destinations and enhance overall connectivity.
“The removal of taxes on ATVs…I also need to mention the flat tax on the four-door pickups, those are big plus for us, because of where the heart of our tourism industry is, it’s very much welcomed, it’s something that we lobbied for as the tourism private sector, so we are happy for the government to introduce this,” he stated.
The government’s aim is also to position Guyana as a preferred destination for conferences, weddings and reunions, especially amongst the diaspora market.
It plans to remove the 14-day residency requirement for destination weddings. This measure is expected to expand tourism-related economic activity to the benefit of the hospitality industry.
Ramkumar lauded the initiative, saying that destination weddings are a huge market and Guyana will now be more competitive in this regard.
The allocation to complete the Hospitality Training Institute is also a plus for the industry. The institute is slated to open this year and will have the capacity to train over 700 individuals. A total of $2.2 billion is budgeted in 2026 to complete its construction.
“It’s going to help us. We suffer a lot in the industry, in terms of being able to attract skilled labour, and so the institute is meant to fill that gap,” he noted.
Ramkumar also welcomed the establishment of the Guyana Development Bank (GDB), saying it is a huge boost to small businesses, especially those in the tourism field.
In recognition of the need to expand access to finance, Budget 2026 allocates US$100 million to be injected into the GDB. This institution will provide small and medium enterprises (SMEs), young entrepreneurs, women, and persons living with disabilities, with access to up to $3 million in micro-credit loans at zero interest, with zero collateral requirement for targeted investments in specified sectors.