In a recent opinion editorial on Time, Global Research Professor Ian Bremmer discussed the economic benefits of opening Cuba to international business. Now that Cuba has been removed from the list of nations that sponsor terrorism, several industries will have more advantages in the opened country.
To begin, Prof. Bremmer explained how better relations with Cuba would increase permitted remittance flows. He also discussed an increase in flights and tourism in the country, as Cuba would be a convenient vacation spot for Americans.
Prof. Bremmer also discussed the advantages of opening Cuba in the telecommunications industry:
Only one in ten Cubans regularly use mobile phones and only one in twenty have uncensored access to the Internet. Even state-restricted Internet penetration currently stands at just 23.2%. The telecom infrastructure is so underdeveloped that an hour of regulated Internet connectivity can cost up to 20% of the average Cuban’s monthly salary. There’s serious demand for the major infrastructure investments needed to improve these numbers.
To read more on the economic benefits of an opened Cuba, please click here.