How can the entrepreneurship ecosystem in Guyana impact the tourism industry by 2025?

Abstract

Purpose

The purpose of this conceptual paper is to discuss the entrepreneurship ecosystem in Guyana with particular emphasis on the role of cultural support and its possible impact on the tourism industry in the country by 2025.

Design/methodology/approach

The paper is based on a literature review of entrepreneurship ecosystems, document analysis of key reports on Guyana and interviews with relevant authorities.

Findings

The paper observes that Guyana can focus entrepreneurial efforts on areas of natural comparative advantage, including nature-based tourism and agriculture. However, achieving high-impact entrepreneurship in developing world economies like Guyana requires a strategic approach that is process oriented and which addresses cultural impediments to entrepreneurship.

Practical implications

Encouraging wealth creation and addressing issues of poverty and inequality are but a few of the concerns governments grapple with. Guyana is no different to its geo-political counterparts who are pushing entrepreneurship as a viable means of addressing these concerns. Driven by factors such as setbacks experienced by those with a socialist agenda, the onset of globalisation, the removal of preferential agreements, the opening of trade routes and an emphasis on local economic development, much has been made of entrepreneurship as a panacea of development issues.

Originality/value

This paper seeks to contribute to a better understanding of entrepreneurship in a developing world context with particular significance for the tourism industry.

Citation

Connelly, A. (2018), "How can the entrepreneurship ecosystem in Guyana impact the tourism industry by 2025?", Worldwide Hospitality and Tourism Themes, Vol. 10 No. 5, pp. 569-580. https://doi.org/10.1108/WHATT-05-2018-0033