TAG: Construction
Oil and gas finds in 2015 lead to the modest growth of the Guyanese economy in 2019, driving total GDP over the $3.6bn mark. 2020 will mark the beginning of the country’s transformation from being a raw materials exporter - and among the least developed countries in the Western Hemisphere - to becoming an oil and gas powerhouse, setting the country up for substantial foreign investment and growth opportunities. The service and energy sectors are best poised for rapid development off the back of oil and gas production, and traditional sectors such as agriculture, timber and tourism are expected to grow in both levels of sophistication and market strength.
Around 55% of the world’s population – or 4.2bn people – lived in urban areas in 2018, up from 47% in 2000, according to the UN. Because of the rapid rate of urbanisation, this figure is expected to reach 68% by 2050, with growth concentrated in Latin America, the Middle East and North Africa (MENA), sub-Saharan Africa and Asia.
