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Open for Business

Building the New Cuban Economy

Brookings Institution Press, 2016 more...


Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

US airlines, cruise lines and hoteliers now can do business across the Florida Straits in Cuba. They shouldn’t expect easy profits, argues Brookings Institution fellow Richard E. Feinberg in this clear-eyed look at the opportunities and challenges that Cuba poses. The Cuban government is notoriously difficult to work with and slow to make decisions. Wage controls mean that Cuban workers may resist the usual motivations. Feinberg doesn’t offer advice for navigating Cuban commerce, but he provides useful insight into the advantages and disadvantages of investing there. getAbstract recommends Feinberg’s study to investors, entrepreneurs, consultants and established firms considering doing business in and with Cuba.

Take-Aways

  • In 2016, the US reopened commerce with Cuba.
  • Cuba has 11 million well-educated people living on an island the size of Pennsylvania.
  • Cuba’s literacy rate is 99.8%. Its life expectancy is 79 years, and the typical Cuban spends 14 years in school. In 2014, some three million foreign tourists traveled to Cuba.

About the Author

Former special assistant to President Bill Clinton Richard E. Feinberg is a nonresident senior fellow in the Latin America Initiative at The Brookings Institution and a professor at the University of California-San Diego.