A man uses his mobile phone near the cruise ship Norwegian Sky in Havana, Cuba, May 9, 2017. REUTERS/Alexandre Meneghini Reuters
HAVANA (Reuters) – Cuba represents a “huge” but challenging opportunity for U.S. cruise, airline and hotel companies as American visitors to the Caribbean island could increase as much as sevenfold by 2025, according to a report by the Boston Consulting Group.
As many as 2 million Americans could visit up from 285,000 last year, excluding Cuban Americans, the BCG study published on Wednesday estimated.
Given tourism infrastructure is already creaking, that means there are business opportunities aplenty but U.S companies must learn to navigate a centrally-planned economy with its quirks.
U.S. travel to Cuba has already surged, albeit from very low levels, in the last two years since the former Cold War allies announced a detente and the Obama administration eased travel restrictions to the island.