Contribution of Cuban Residents Abroad to the Cuban Economy: Tourism and Remittances 1

Cuban Residents Abroad (CRA) have the potential to significantly contribute to Cuba’s economy through tourism and remittances. CRA constitute a large diaspora, with strong ties to Cuba. Their travel to the island, even if primarily to visit family, has a notable economic impact, especially on privat...

Full description

Saved in:
Bibliographic Details
Published in:The international journal of Cuban studies 2024-05, Vol.16 (1), p.104-122
Main Author: Betancourt, Rafael J.
Format: Article
Language:English
Subjects:
Diaspora
Diplomatic & consular services
Economic development
International relations
Local economy
Migration
Participation
Rehabilitation
Remittances
Residents
Tourism
Travel
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Cuban Residents Abroad (CRA) have the potential to significantly contribute to Cuba’s economy through tourism and remittances. CRA constitute a large diaspora, with strong ties to Cuba. Their travel to the island, even if primarily to visit family, has a notable economic impact, especially on private and local economies. Remittances from CRA are also substantial, representing a top source of foreign earnings for Cuba, though recently limited by US restrictions. However, various obstacles still hinder CRA’s full economic participation, including outdated policies, limited travel services catering to CRA, and complicated remittance channels. The Cuban government could boost CRA contributions by facilitating their travel, investment, and remittances through updated policies, expanded local initiatives, allowance of more private sector participation, and overall reintegration of CRA into economic life. Balancing CRA participation with equitable development remains a challenge.
ISSN:1756-3461
1756-347X
DOI:10.13169/intejcubastud.16.1.0104