Opposing a possible roll back of Cuba travel reforms by the Trump Administration, Engage Cuba has spelled out the cost to the economy of returning to the dark days of a Cuba embargo.
Reversing the reforms enacted by the Obama Administration would cost US airlines and cruise lines $3.5 billion and affect up to 10,154 jobs during Trump’s first term, the group said.
The economic impact analysis was conducted in cooperation with a number of businesses and organizations including the American Society of Travel Agents, Cuba Educational Travel, Pearl Seas Cruises and the United States-Cuba Business Council.
"In the past two years since President Obama announced his policy of opening up to Cuba, we’ve seen economic exchanges, investments and jobs growth in the U.S. and in Cuba’s private sector. For a jobs-focused President, to reverse these jobs creating reforms, especially one that affects many of the agricultural states that voted for him, makes little economic sense and no political sense," said Christopher Sabatini, a Latin America specialist and executive director of Global Americans.
Several U.S. airlines and cruise lines now serve Cuba and major travel players like AirBnb, Expedia and TripAdvisor also offer bookings to American travellers for Cuba.
Taking into account all Cuba-US trade sectors including agricultural exports, the impact could be as high as $8.1 billion USD and affect 14,500 jobs, Engage Cuba says.
