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Guyana oil production
Guyana’s oil-driven boom has pushed Georgetown property prices to levels that are increasingly inaccessible to ordinary workers, while a housing programme backlog of 78,000 applications, infrastructure deficiencies, and land title delays are leaving families priced out of their own country’s prosperity.
The Caribbean closes 2024 with resilience: Hurricane Beryl struck in July, tourism set records, Guyana’s oil output hit 620k bpd, and Jamaica’s fiscal discipline delivered a seventh straight surplus.
Four months after Hurricane Beryl, Caribbean recovery exceeds expectations: Jamaica tourism at 98% of prior year, Grenada rebuilding with CDB aid, and Guyana’s oil output surpasses 600,000 bpd.
Caribbean investors navigate peak hurricane season post-Beryl while Guyana’s ExxonMobil commits US$4.6B capex, Jamaica property values hold, and the Dominican Republic breaks tourism records.
Our Year-End 2023 Six-Month Special Edition covers 4 July to 3 January 2024 — six months defined by a relatively quiet hurricane season, US interest rates held at 22-year highs of 5.25–5.5%, continued Caribbean tourism records, Guyana oil approaching 400,000 bpd, the Dominican Republic luxury boom, and a 2024 outlook shaped by anticipated rate relief.
Caribbean tourism surpassed 2019 pre-pandemic records in 2023 as Guyana’s oil production reached 400,000 bpd. As 2024 begins, the region’s property markets balance strong tourism-driven demand against high interest rate headwinds.
Guyana’s oil output surpasses 350,000 barrels per day as Barbados champions the Bridgetown Initiative for climate finance and the Caribbean Development Bank approves US$120 million in green energy financing for six member countries.
Our Mid-Year 2023 Six-Month Special Edition covers 4 January to 3 July 2023 — six months in which Caribbean tourism continued its record-breaking post-COVID surge, the Federal Reserve pressed on with rate hikes as inflation gradually moderated, Guyana’s oil output approached 300,000 bpd, and the short-term rental revolution reshaped property investment strategies across the region.
Guyana’s oil production crosses 300,000 barrels per day as Caribbean summer tourism outperforms expectations, Airbnb listings grow 20 percent year-on-year and Georgetown property prices surge 35 percent as the oil economy transforms the country.
Our Year-End 2022 Six-Month Special Edition covers 4 July to 3 January 2023 — six months in which the Caribbean posted its best tourism year since 2019, global interest rates rose sharply with severe affordability implications, Hurricane Ian devastated southwest Florida with knock-on effects for Caribbean insurance markets, and Guyana’s oil production continued its dramatic expansion.
Jamaica Homes News
Independent Jamaican journalism worth supporting.
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Jamaica Homes News brings you the latest Jamaican news, property, business, tourism, development and community stories from across the island. Discover the people, places and developments shaping Jamaica today, with timely news and local insight you can trust.
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