Burson-Marsteller’s newly launched Cuba Specialty Team, which provides a varied portfolio of services to help clients analyze policy developments in the US and Cuba, as well as position their organizations for success, outlines the various current business opportunities available between the US and Cuba, and possible opportunities should trade expand further in this new Infographic.
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Burson-Marsteller Cuba Specialty Team Infographic
1. CUBA Categories under which U.S.
citizens can travel to Cuba:
First version imposed
in 1960 on goods other
than food and medicine
YEARS SINCE
THE EMBARGO:
OPPORTUNITIES
CHALLENGES
CATCHING UP
SIGNIFICANT NEEDS TO IMPROVE INFRASTRUCTURE
AND ECONOMIC PRODUCTIVITY
BRAIN POWER
EDUCATED POPULATION WITH A LITERACY RATE OF 99.8%5
OHIO IN THE CARIBBEAN
A POPULATION OF 11.2 MILLION6
IS EQUIVALENT TO
A POTENTIAL CONSUMER BASE THE SIZE THE STATE
OF OHIO, ALL WITHIN 90 MILES OF THE U.S.
THE EMBARGO
THE U.S. EMBARGO REMAINS IN PLACE, PROHIBITING INVESTMENT
BY U.S. FIRMS AND EXTENDING CREDIT TO CUBAN ENTITIES
LIMITED INCOME
GDP PER CAPITA OF $570 A MONTH7
55
Industries that are
currently allowed
to trade with Cuba
5
per quarter
as of June 2015
REMITTANCES
ALLOWED:
$2,000
2
3
ALLOWABLE ALCOHOL
AND TOBACCO PRODUCTS
IMPORTED BACK TO THE U.S.:
$100
THIS YEAR’S U.S.
EXPORTS TO CUBA:
$123M
THE ECONOMIC MODEL
CUBA’S ECONOMY FACES CHALLENGES AND THE COUNTRY
IS IMPLEMENTING REFORMS TO GAIN PRODUCTIVITY
TRAVEL
AGRICULTURE
TELECOMMUNICATIONS
MEDICAL
SPECIFIC
FINANCIAL SERVICES
FAMILY VISITS
OFFICIAL BUSINESS OF THE U.S. GOVERNMENT/FOREIGN
GOVERNMENT OR CERTAIN INTERGOVERNMENTAL ORGANIZATIONS
JOURNALISTIC ACTIVITY
PROFESSIONAL RESEARCH AND PROFESSIONAL MEETINGS
EDUCATIONAL ACTIVITIES
RELIGIOUS ACTIVITIES
PUBLIC PERFORMANCES, CLINICS, WORKSHOPS, ATHLETIC AND
OTHER COMPETITIONS, AND EXHIBITIONS
SUPPORT FOR THE CUBAN PEOPLE
HUMANITARIAN PROJECTS
ACTIVITIES OF PRIVATE FOUNDATIONS/RESEARCH/
EDUCATIONAL INSTITUTES
EXPORTATION, IMPORTATION, OR TRANSMISSION OF INFORMATION/
INFORMATION MATERIALS
CERTAIN AUTHORIZED EXPORT TRANSACTIONS
Opportunities & Challenges
1
U.S. Department of State 2015 (http://www.state.gov/r/pa/ei/bgn/2886.htm) 2
U.S. Department of State 2015 (http://travel.state.gov/content/pass-
ports/english/country/cuba.html) 3
Statement by Deputy Higher Education Minister Aurora Fernandez on April 8, 2015
4
World Bank 2015 (http://data.worldbank.org/country/cuba) 5
World Bank 2013 (http://data.worldbank.org/indicator/NY.GDP.PCAP.CD)
5
CIA World Factbook 2015 (https://www.cia.gov/library/publications/the-world-factbook/fields/print_2103.html) 6
World Bank 2015
(http://data.worldbank.org/country/cuba) 7
World Bank 2013 (http://data.worldbank.org/indicator/NY.GDP.PCAP.CD)
1
ALTHOUGH ECONOMIC SANCTIONS REMAIN IN PLACE, THE U.S. IS
CUBA’S 7TH LARGEST TRADING PARTNER IN GOODS, AS OF 2012 2
BURSON-MARSTELLER
CUBA SPECIALTY TEAM
124