Cuba’s Future Hospitality and Tourism Business: Opportunities and Obstacles

Abstract

The resumption of diplomatic relations between the United States and Cuba opens the prospect of a tourist boom to the Caribbean’s largest island. Cuba has many advantages to support investment, as the island is rich in land and water resources, has an educated and welcoming population, and offers myriad development opportunities. Weighing against those favorable prospects are the continued U.S. trade embargo (independent of diplomatic relations) and the Cuban government’s central control and continued regulation of foreign investment—including the possibility of unexpected changes in government policies.