The $1 Billion Bungle: How US Businesses are Hurt by Cuba Travel Ban
December 18th, 2009U.S. tourism companies could take in at least $1.1 billion a year on trips to Cuba if Washington didn’t ban most of its citizens from visiting the island, officials said Wednesday during a videoconference with American tour operators.
That figure includes $600 million in sales by airlines, $300 million for travel agents and $200 million in U.S. tourism-related exports and services, including food and drink items that could be sold to Cuba as well as spending on advertising to promote Cuba as a destination, said Miguel Figueras, a top aide to Cuban Tourism Minister Manuel Marrero.
Figueras provided few details on how Cuba arrived at the numbers, but pointed to a previous study by the American Society of Travel Agents in asserting that without travel restrictions, 1.8 million U.S. tourists would come to Cuba annually. That includes some 482,000 Cuban-Americans visiting relatives on the island, he said.
More than 2 million …
