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| Russian Investors flock to Resorts in Havana and Varadero Cuba |
Cuba Tourism Investment Breaks Record
Cuba Tourism Investment in Havana broke the Caribbean islands record in 2012 reported the Cuban Financial and Investment Ministry of Tourism and Financial Statistic Bureau of Banking.The strategic long term investment funds in tourism by Cuba has resulted in huge increases in foreign Holiday vacationers that visit Cuba, Varadero, Matanzas, Cayo Coco, Trinidad and this Caribbean island beach paradise reached millions foretasted the Cuban tourism and Insurance bureau said, adding that the previous Cuban Health, Travel & Insurance record produced increases in revenue.
In 2012, the top Cuban tourist resorts located in Cuba, Havana, Trinidad, Cayo Largo & Varadero beaches received a record breaking 300,000 tourists, over 15,000 more tourist than the previous record. Cuba's top tourism and resort investment partner is still Canada the most valuable source of Cuban tourists, followed by Melia Group of Spain, Accor of France, Argentina, Germany, Russia and Mexico.
The Cuban Americans looking to invest in resorts coming from Miami Florida are the fastest growing tourist sector with over Five hundred thousand Cuban Americans travel to Cuba in the past year with millions more Americans expected to vacation in Cuba as soon as U.S. President Obama lifts the American travel restrictions.
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| English: Cuban dancers in Varadero (Photo credit: Wikipedia) |
Cuban Investment Funds in Tourism
International Mutual Investment Funds are looking closer at resort investment in Havana Cuba's tourism hotel business where financial imports and domestic banking exports were up 20 percent during the first quarter of 2012, compared with last year due mainly to the increased income from tourism, Cuban travel, Health Insurance and health care services reported the Ministry of Cuban Insurance, Banking and Finance.Increase in Cuban financial profits by 20 percent in Foreign exports according to managers at the Foreign International Trade Ministry. Increasing Cuba tourist is good news for Cuban President Raul Castro and his efforts to boost Cuba's debt ridden economy by increasing financial investments with export income and decreasing imports cost from high interest investment banks.
Cuba's imported $10 billion according to sources in Cuba banking ministry while's exports rose 20 percent and 15 percent of which was tourism, Cuban hotels and the remainder health and travel insurance services. The financial profits earned from tourism insurance services are accounted for by tourism and health care assistance. In Varadero tourist grew over 10 percent in April according to the Cuban National Statistics Office.
As a bonus for protecting the health care of foreign tourist in Cuba some 40,000 Cuban professionals, most from the health care sector, are working in the tourist sector in Varadero, Cayo Coco, Trinidad, Matanzas, Havana and also in oil-rich Venezuela and the bulk of earnings go to the Cuban government.
Cuba health care sector exports similar Insurance and surgery laser technical services to some 30 other countries with service category income that also includes communications and revenues from hospitals and joint ventures.
After 10 years of investing in Cuban tourism hotel sector Castro's investment funds appears to have paid off in order to boost exports and reduce imports which have resulted in annual trade surpluses averaging $2 billion since the first Cuban Investment back in 1990.
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