CUBA INVESTMENTS: Cuban Investment

Showing posts with label Cuban Investment. Show all posts

5/24/2012

Cuba Investment In Tourism Havana Resorts

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.

English: Cuban dancers in Varadero (Photo credit: Wikipedia)

Cuba Investments in resorts and tourism are also banking on Cuban health care insurance and medical tourism to serve as a the financial engine of growth to help the future development of other social, medical and economic projects, the Cuban government aims at receiving over 3 million tourists in 2012.

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.

5/03/2012

INVESTMENT IN CUBA

Havana Hotel Investment In Varadero Cuba By American Investors

AMERICAN HOTEL INVESTMENT IN CUBA
The Cuba investment opportunities of the last sixty years of the 20th century shows that the deregulation of the Cuban economy and of American Hotel investment process was zero and did not bring about any communications between American Investors interests and those of international foreign investors. Economic policies and strategies were required yet not supported by adequate instruments to implement them that would better guide the investment flows.

Investments in main productions and basic services such as communications, power generation, oil refining were carried out by foreign companies. Banking system were controlled by U.S. and English investment banks. The best lands were in the hands of sugar and cattle corporations from the United States, and Cuba controlled 75% of Cuban foreign trade. A few years later, the American companies displaced the companies from other countries, and 95% of the accumulated foreign investment corresponded to American interests.The majority of the Cuba economic control of society went hand in hand with political control. 1950 facilities were created with the purpose of undertaking a resort and casino tourist development with financing and credits that were granted with international and national financial resources to encourage foreign companies to build hotels on the best beaches of Havana, Varadero and Cuba

OLD INVESTMENT IN CUBA
In 1959 foreign investments in Cuba came to an abrupt end thanks to Fidel Castro and the Cuban revolution. Foreign companies were nationalized and agreements were signed with almost all countries whose enterprises or citizens had been affected with the purpose of granting due compensation. Although the Cuban government proposed a plan to compensate the U.S. companies and citizens, Cuba found it impossible to discuss a solution with U.S. administrations who refused to negotiate and have forbidden the affected American investors and individuals to negotiate directly with Cuba. One of the most famous hotels to be confiscated was the Hotel National De Cuba.

In the 1990's Cuba changed direction again when the first joint venture was created between a Cuban enterprise and a Spanish company with the purpose of building a chain of luxury hotels on the best beaches of Cuba in the tourist resort of Varadero on the basis of Decree-Law No. 50 of 1982. Many foreign investors suspected that the Melia hotels were owned indirectly by Fidel Castro.

The change in Cuban investments attitude started a huge growth wave of investment in resorts and hotels from 1991 to 1999, foreign investment was accelerated as the most important investment for Cuban authorities to recover from the serious impact to the Cuban economy caused by the loss of Russian investment and the economic links with other Socialist countries in the framework of the Council of Mutual Economic Aid (COMECON). The economic loss resulted in the loss of 35% of Cuba's GDP in the first three years of the nineties with strong economic and social effects. In 1998 to 2001 foreign investment expanded and more resorts and hotel deals were signed with important partners in new tourism sectors.

Fidel Castro stepped down and Raul Castro opened the flood gates of Foreign Investments into Cuba as investors from 46 countries operate in almost 400 ventures in 32 sectors of the Cuban economy; 52 % of those investors are from European Union countries: 24% from Spain, almost 15% from Italy, 4% from France, 3.5% from the United Kingdom. Tourism, Oil and Gas, Mining,Energy and Telecoms are the main sectors of investment. Thus, foreign direct investment, focused on the search for new external markets, competitive technologies and financing has played an important role in the country's economic recovery.

Invest In Cuban Beach Front Property Near Havana Varadero Cuba

CUBA BEST LOCATION FOR INVESTORS

Cuba is located in a region whose share of virgin investment beaches in terms of world investment is rapidly growing as top international hotel groups look at Cuba for future developments. This, together with Cuban beaches potential and North American integration process, makes hundreds of business people contact the Cuban Economic Development And Investment Office of the Cuban Embassy in Havana in search of information about investment opportunities in the Cuban beaches and resort hotel and real estate sectors.

Foreign investment is not associated to a privatization process in Cuba; it is rather focused on specific objectives that focus on Cuban development opportunities that are important to offer much higher investment returns for foreign capital involvement.

In 2003, the National Assembly of the People's Power (Cuba's Parliament) approved a number of foreign investment amendments to the Constitution of the Republic of Cuba with a view to allowing real estate ownership for private investors and joint ventures were legalized and defined.