Maina wa Njuguna
The Caribbean region has continued to weather the economic storms better than many countries in the global south relatively speaking.
Most of the region is expected to average 3.5% GDP growth this year, 2023 except for the republic of Guyana 🇬🇾 which is on an entire league of its own.
Guyana is one of the fastest growing economy in the world with an ungodly 37.2 per cent projected GDP Growth in 2023. Oil reserves discoveries and the expansion of oil production are at the heart of the country’s economic transformation.
Inflation has been a major downer as high cost of goods and services have dramatically hampered discretionary income. Discretionary income is money left over after paying your taxes and other living necessitie such as clothing, food, mortgage, rent etc.
The Caribbean region is a top destination for tourists, mainly from North America and Europe. Pandemic vestiges that continue to linger on in different dimensions, a stubborn inflation and insecurity challenges across the globe especially in East Europe continue negative impacts on confidence and travel.
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