The Cuban Economy In The US

Decent Essays
The door is now open to the possibility that both the United States and Cuba could benefit from restoring ties. This could be possible if Cuba and the Castro government are open to minimizing controls of their economy, including foreign trade, banking and business investments and tourism. The US will also need to take the right approach to engage Cuba and offer education and partnerships to help grow the Cuban economy, while supporting and respecting the Cuban-Americans who have a personal stake in their home country’s development. Some would argue that United States restrictions and sanctions on Cuba for the last 50 years, kept the US and other allies safe. This is not something that will only benefit the United States and show that we…show more content…
Building better relations with Cuba will increase tourism rates and will be a major factor in pushing the economy further. One theory is that by loosening restrictions, the United States is less likely to experience major waves of immigration. This is because Cuban people will see hope and opportunity and want to stay in their home country. On the other hand this doesn’t stop this problem from happening. United States businesses are jumping at the bit to get in at the ground level of the private sector and in particular the tourist industry. Cuba is a beautiful island that would draw many Americans and with the tourists would come pockets full of money that would ultimately end of up stimulating the Cuban market. Opening this market would create an abundance of jobs for natives of the islands and workers back in the United States. To open this market would aid both Cubans and Americans and to say no to that would be…show more content…
There is much more to learn about what risk prevention and contingency plans will be put in place, if restoration between the two countries fails. Supporters of the decision might claim the decision to restore ties was a calculated risk. Restoring diplomatic ties between both the United States and Cuba will ultimately benefit them economically, create business and investments on both sides create a bigger tourist population which will also help boost the economy. Without the United States, Cuba’s economy will only get worse from here and it would be profitable for both countries to lift the restrictions and sanctions. The fact remains that most of Cuba is still considered a third-world country and only time will tell how this reunion will play
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