Tourism and Hotel Industry in Cuba: Analysis of Growth, Trends and Progress (2017 - 2022)

Cuba located in the Caribbean region is known for its beautiful beaches, beautiful mountains, cigars and rum. As Cuba?s diplomatic relations grows with US and other Western nations, tourism sector in Cuba is expected to grow. Cuba has vast coastlines with beautiful geographies in addition to 7 UNESCO World Heritage Sites and 7 Biosphere Reserves which makes it very attractive for tourists across the world. Tourism industry is the third largest source of foreign exchange after sugar and tobacco industries. Currently, tourism constitute 2.8 % of GDP directly and is expected to grow at a CAGR of 5.1 % from 2014 to 2020. The industry creates 2.8% of direct employment and supports total 10.1 % of total employment. Cuban government is committed to improve this sector and has diverted 13.2 percent of its total investment to this sector in 2014.

Visitors are key components of growth in tourism industry and foreign tourist arrivals have grown from 2.24 million in 2004 to 2.98 million in 2014 growing at a CAGR of 2.9 %. However given recent improvement in relations and diplomatic ties of Cuba, Foreign tourist arrival is expected to increase at a CAGR of 4.83% from 2015 to 2020. Government is also giving high importance to this industry as is investing heavily on tourism and hospitality sector. Cuba is mainly focusing on leisure and cruise tourism.

Given the low cost of medical facilities in Cuba, there is surely a scope of medical tourism in the nation. Many patients from Canada and USA are looking at Cuba for a possible destination for wide range of treatments including eye surgery, neurological disorders such as multiple sclerosis and Parkinson's disease, and orthopedics.

Tourism industry in Cuba is mainly driven by low cost, better connectivity and quality and improving hospitality industry. Geographical proximity with high income nations like USA, Canada, Mexico and Brazil can help the country to improve its foreign tourist arrival numbers. However, safety and security and ICT preparedness is a constraint affecting Cuban tourism industry. Major tourist destinations in Cuba includes: Old Havana, Varadero, Trinidad, Guardalavaca, Playa Para?so, Cayo Coco, Parque Nacional Vinales, Baracoa and Santa Clara.

What the report offers

The study identifies the situation of Cuba and predicts the growth of its tourism and hotel industry. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, growth forecast, major companies, upcoming companies and projects etc. in the tourism sector of Cuba. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various forms of tourism available in the country.


1. Introduction

1.1 Report Description

1.2 Research methodology

1.3 Definition of the Market

1.4 Areas covered

2. Executive Summary

3. Key Findings of the Study

4. Market Overview

5. Introduction

6. Economic Indicators

6.1 GDP

6.2 GDP Growth

6.3 Inflation rate

6.4 Interest Rate

6.5 Jobless Rate

6.6 Fiscal Deficit

6.7 Current Account Deficit

7. Market Segmentation

8. Investment Opportunities

9. Market Dynamics

9.1 Drivers

9.2 Restraints

9.3 Opportunities

9.4 Industry Value Chain Analysis

9.5 Industry Attractiveness ? Porter?s 5 Force Analysis

9.6 Industry Policies

10. Market Entry Parameters

10.1 Government Regulations

10.2 Competitors

10.2.1 Major Players and Their Market Share

10.2.2 Major Products

10.2.3 Growth and Forecast of Competitors

10.2.4 SWOT Analysis of Competitors

10.2.5 Bubble Analysis of Competitors

10.2.6 Upcoming Companies

10.3 Consumer/Customer

10.3.1 Segmentation

10.3.2 Behaviour

10.3.3 Spending Pattern

10.3.4 Target market

10.3.5 Tourist Seasons

10.3.6 Demographic Strength/Weakness

11. Vacation Tourism

11.1 Summary

11.2 Key Findings

11.3 Tourists (Country Wise)

11.4 Major Locations

11.5 Major Companies

11.6 SWOT Analysis of Companies

11.7 Market demand to 2020.

12. Medical Tourism

12.1 Summary

12.2 Key Findings

12.3 Tourists (Country Wise)

12.4 Medical Locations Facilities

12.5 Major Locations

12.6 Major Companies

12.7 SWOT Analysis of Companies

12.8 Market demand to 2020.

13. Cultural Tourism

13.1 Summary

13.2 Key Findings

13.3 Tourists (Country Wise)

13.4 Major Locations

13.5 Major Companies

13.6 SWOT Analysis of Companies

13.7 Market demand to 2020.

14. Eco Tourism

14.1 Summary

14.2 Key Findings

14.3 Tourists (Country Wise)

14.4 Major Locations

14.5 Major Companies

14.6 SWOT Analysis of Companies

14.7 Market demand to 2020.

15. Adventure Tourism

15.1 Summary

15.2 Key Findings

15.3 Motorized Sports

15.3.1 Summary

15.3.2 Key Findings

15.3.3 Tourists (Country Wise)

15.3.4 Major Locations

15.3.5 Major Companies

15.3.6 SWOT Analysis of Companies

15.3.7 Gliding (Offshore Racing, Wakeboarding, Waterskiing, Air Racing)

15.3.8 Rolling (F1, Rallying, Motorcross)

15.3.9 Market demand to 2020.

15.4 Non-Motorized

15.4.1 Summary

15.4.2 Key Findings

15.4.3 Tourists (Country Wise)

15.4.4 Major Locations

15.4.5 Major Companies

15.4.6 SWOT Analysis of Companies

15.4.7 Gliding (Surfing, Windsurfing, Kiteboarding, Skiing, Snowboarding, Paintballing, Parachuting, Wingsuit, Sailing)

15.4.8 Rolling (Skateboarding, Mountainbiking, Free-Style Biking)

15.4.9 Market demand to 2020.

16. Cruise Tourism

16.1 Summary

16.2 Key Findings

16.3 Tourists (Country Wise)

16.4 Major Locations

16.5 Major Companies

16.6 SWOT Analysis of Companies

16.7 Market demand to 2020.

17. Event Tourism

17.1 Summary

17.2 Key Findings

17.3 Tourists (Country Wise)

17.4 Major Locations

17.5 Major Companies

17.6 SWOT Analysis of Companies

17.7 Market demand to 2020.

18. Competitive Landscape

18.1 Existing Plants

18.2 Upcoming plants

18.3 Technology in use

19. List of Figures

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