For generations, Guyana was known for its forests, rivers, agriculture, gold, bauxite and rich cultural heritage. Today, however, the South American nation is attracting global attention for something found beneath its offshore waters: oil.

The discovery was first announced in 2015, and commercial oil production began in 2019. Since then, Guyana has become one of the fastest-growing economies in the world. According to the World Bank, the country’s economy grew by 43.4 percent in 2024, supported by the production of approximately 225 million barrels of oil during that year.

Yet the most important part of Guyana’s story is not simply that oil was discovered. The deeper question is what the country will build with the opportunity.

Oil revenue has the potential to strengthen roads, schools, hospitals, housing, transportation, technology and other essential infrastructure. The growth is also reaching beyond the oil industry. Construction, agriculture, manufacturing, tourism, professional services and other areas of the economy are expanding as the country develops.

This matters because oil production itself does not automatically create employment for everyone. Much of the industry requires highly specialized equipment and technical knowledge. The greater opportunity may therefore exist in the businesses and services surrounding the growing economy.

New developments require engineers, builders, accountants, caterers, farmers, transportation providers, technology specialists, environmental professionals, accommodation, healthcare services and trained workers. This means that a discovery in one sector can create movement across several others.

For Guyanese living abroad, this moment may also represent an invitation to look homeward again—not only emotionally, but strategically. Members of the diaspora possess knowledge, experience, professional networks and access to international markets that could contribute to Guyana’s development.

However, opportunity must be approached with wisdom. Rapid economic growth can increase prices, widen inequality and leave communities behind if national wealth is not managed responsibly. History has shown that possessing natural resources does not guarantee shared prosperity. Good governance, transparency, education and economic diversification remain essential.

Guyana must therefore resist building an economy that depends entirely on oil. Oil is a limited resource, but the knowledge, businesses and institutions built from it can continue serving the country long after production declines.

There is also a lesson here for smaller nations and individuals: sometimes value is present before it becomes visible.

The world did not suddenly place oil beneath Guyana’s waters in 2015. The resource was already there. What changed was its discovery, recognition and development.

In the same way, communities may possess overlooked resources in their land, culture, creativity, location or people. Transformation often begins when people stop viewing what they have as insignificant and begin asking how it can be developed responsibly.

Guyana’s story is still unfolding. Its greatest achievement will not be measured solely by the number of barrels produced, but by whether this historic opportunity creates lasting advancement for its people.

Read further: https://www.worldbank.org/ext/en/country/guyana