Thursday, November 17, 2016

Cuba tourist revenue up 15%

Revenues from tourism in Cuba rose 15 percent in the first half of 2016 compared with the same period last year, official data showed on Friday, with the number of visitors from the United States soaring around 80 percent.

Tourism income rose to $1.2 billion in the January to June period, the National Statistics Office data showed, helping sustain an economy struggling with lower global commodity prices and a crisis in key ally Venezuela.

The sector is expected to boom further over coming years given easing U.S. restrictions on travel, the return of U.S. cruise ships to the Caribbean island and regular commercial flights between the two countries.

While Canadians still make up the largest group of tourists to Cuba by far, Americans came in third place after Cubans living abroad in the first half of this year, the data showed.

Until very recently, there were more visitors from Germany, Italy, France and Britain than from the United States.

When the flow of tourists from the US really gets going then Cuba will turn into the Florida. Billions will be made by those who figure out how to play it correctly.

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