Thursday, August 25, 2016
Americans are flocking to Cuba
From 2014 to 2015, American visitors to the island rose 77 percent. In the first months of 2016, Cuba's Ministerio del Turismo reports that 94,000 U.S. citizens had already visited the island (for comparison, last year's total number of American tourists was 161,000). Cuban officials expect these numbers to grow.
"Ten years from now, Cuba will be among the most popular destinations in the world," said Peter Sanchez, founder and chief executive officer of Cuba Tours and Travel. "Cuba has everything, from thousands of miles of pristine beaches, hundreds of islands in untouched archipelagos surrounded by protected coral reefs, mountains, rivers, rain forests and many beautiful, historic, cosmopolitan cities with deep culture roots and contemporary entertainment and culinary scenes. You can't see Cuba in one trip. It is too big and there is just too much to see and do. Tourism in Cuba 10 years from now will be going strong and it will be all over the island—not just the western region."
The article also describes all of the problems that are inherent with a visit to Cuba. However, I am used to hearing this as I am always one of the earliest into these new markets. I look at any problem as an opportunity to provide a service or goods at a profit.
The same thing will happen in Cuba and billions will be made in the process. The place is starting from such a low base that over the next ten years the growth will astronomical.
I expect the government there to slow things up because of their ideology and inexperience bu the cat is out of the bag. A younger population will taking leadership over the next few years and they want a higher standard of living. If you can ride the inevitable ups and downs I believe you can make money in Cuba.
I am speculating on the Cuba economy via my small holding in Cuba Ventures (CUV.V) which has many Cuba specific travel related websites that get millions of viewers per month. They are in the process of monetizing this traffic. I am also looking for additional ways to play Cuba.