Starbucks, the American coffeehouse chain, has officially opened its doors in Guyana. Located at Amazonia Mall, on the East Bank of Demerara, it is the first of five stores announced by the franchisee Prestige Holdings Guyana Limited.

Speaking at the grand opening ceremony on Monday April 24, President Dr. Irfaan Ali said the opening of this international franchise should encourage local coffeehouses to up their games.

"I do not see the arrival of Starbucks here as competition to our local coffee shop…it adds value, and that is what is important. We must understand that we live in a different Guyana and a different world, every brand is going to come. We have to improve, we have to get better, [and] we have to make our own brand and our own systems more efficient. That is what is important and global brands have the tendency of pushing local brands to up their game," he stressed.

President Ali urged Starbucks to introduce some local cuisine items on its menu, and spoke of the significance of this investment in the country, specifically, the service industry.

CEO of Prestige Holdings, Simon Harding shared that every Starbucks café partners with a local organisation within the community to "give back".

"We have partnered with the Save Abee Foundation as our community partner for the first Starbucks at Amazonia mall. The Save Abee Foundation aims to improve the quality of life for children in Guyana by providing free lessons, medical outreach as well as community outreach programs," Harding shared.

Starbucks is offering a wide array of options at prices that match the local market. Starbucks intends to open in other locations across the country in the future.

The Seattle-based coffee chain, which operates nearly 35,000 stores worldwide, has set a target to reach 50,000 outlets by 2030.

The company's 2022 revenues grew 11% to reach US$32.25 billion. 11% revenue growth and 7% outlet growth globally is projected for the year 2023.

Keurig Coffee k-cups are rapidly becomming popular in Guyana and Local Logistics has been importing and distributing them in a wide variety of flavours, blends, roasts and sizes.

The explosion of Guyana's economy in the wake of the oil find has led to the introduction of a vast number of modern and vibrant outlets across the country.