Report outlines massive cost of reversing Cuba travel reforms
A group of travel agents, Cuba experts, business leaders and economists have released figures to show the impact of a possible roll back of Cuba travel reforms by the Trump Administration.
Led by the group Engage Cuba, the report has spelled out the cost to the economy of returning to the dark days of a Cuba embargo.
Reversing the reforms enacted by the Obama Administration would cost US airlines and cruise lines $3.5 billion and affect up to 10,154 jobs during Trump’s first term, the group said.
The economic impact analysis was conducted in cooperation with a number of businesses and organisations, including the American Society of Travel Agents, Cuba Educational Travel, Pearl Seas Cruises and the United States-Cuba Business Council.
"In the past two years since President Obama announced his policy of opening up to Cuba, we’ve seen economic exchanges, investments and jobs growth in the US and in Cuba’s private sector," said Christopher Sabatini, a Latin America specialist and executive director of Global Americans.
"For a jobs-focused President, to reverse these jobs creating reforms, especially one that affects many of the agricultural states that voted for him, makes little economic sense and no political sense."
Several US airlines and cruise lines now serve Cuba and major travel players like AirBnb, Expedia and TripAdvisor also offer bookings to American travellers for Cuba.
Taking into account all Cuba-US trade sectors including agricultural exports, the impact could be as high as US$8.1 billion and affect 14,500 jobs, Engage Cuba says.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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