Cuba Investment Growth Opportunity
In December 2014, President Obama announced the U.S. would normalize diplomatic relations with Cuba potentially injecting billions of dollars into the Cuban economy. Following this, in March 2016, Obama became the first sitting U.S. President in almost 90 years to visit Cuba, a truly historic moment. The countries have also reopened embassies in their capitals and there has been five rounds of relaxing rule changes the U.S. Treasury Department has announced, many of which have been focused on easing travel restrictions to the island for American citizens.
Some of these changes include:
- Relaxation of travel restrictions for qualified U.S. citizens
- Plans for 110 U.S. commercials flights a day between the countries, up from 20 chartered flights
- Reestablished direct mail services between the countries
- Traveling U.S. citizens allowed to import $400 of Cuban goods
- Direct banking & U.S. debit and credit cards permitted
- Relaxation of restrictions for U.S. telecoms and shipping to Cuba
Cuba's USD$3 billion travel and tourism industry is the country's largest industry and is ripe for significant growth. Despite a U.S. tourist ban still in place, Americans can to go to Cuba under one of 12 broad categories of qualified travel including family, humanitarian, journalism, political, religious, educational, cultural and people to people travel. Just last year, American visits to Cuba were up over 50% with the relaxing of travel restrictions. There is a window of opportunity for Travelucion Media with minimal American competition due to the 54 year old U.S. trade embargo, yet travel restrictions on Americans going to Cuba are easing opening up a multi-billion dollar market servicing these travelers. Furthermore, it is expected that U.S. Corporations will eventually seek media opportunities to promote commercial sectors related to Cuba. The U.S. has few home-grown Cuba centric media distribution opportunities and Travelucion Media is one such opportunity in the online travel and digital marketing sectors.