Does Cuba allow foreign investment?

A sharp fall in GDP of 35% in 1990-1993 due to the collapse of the Eastern European bloc and the loss of Soviet subsidies, accompanied by a decline in exports from US$8.1 billion (1989) to US$1.7 billion (1993), forced the government to take remedial action and the decision was made to start the complex process of transition to a mixed economy.

To alleviate the economic crisis, from 1992 on the government introduced a few market-oriented reforms, including opening to tourism, encouraging foreign investment, legalizing the dollar, and authorizing self-employment for some 150 occupations.

Please, visit our Authentic Cuba Travel®- Economy page for further information.