Key facts
- Cuba will allow Cubans at home and abroad to manage its hotels.
- This follows the departure of international hotel chains from the island.
- Mastercard and Visa have suspended transactions in Cuba.
- A major Canadian miner is reconsidering its presence.
- The government aims to attract Cuban talent to manage the hospitality sector.
Cuba's government has announced a significant policy shift, stating its openness to allowing Cubans, both residing on the island and those living abroad, to manage the country's hotel sector. This strategic decision comes in the wake of several international hotel chains ceasing their operations in Cuba. The move is intended to leverage Cuban expertise and capital to revitalize and manage the nation's hospitality industry, aiming to fill the void left by foreign operators and potentially boost tourism. This policy change occurs amidst broader economic challenges, including the suspension of transactions by major payment processors like Mastercard and Visa, and a Canadian mining company reconsidering its operations on the island. The government aims to attract Cuban talent to manage the hospitality sector.