The island’s economy is in dire shape. For extra money, the government is looking to exiles who already send back to Cuba some $2bn-3bn in cash a year, or 2-3% of GDP
The exodus has grown recently as living conditions have worsened and political repression continues. Last year emigration hit a record. TheCustoms and Border Protection agency estimates that more than 306,000 Cubans—more than 2% of Cuba’s population—crossed the United States’ southern border in 2022. Cuba’s government has now decided to be nicer to. On July 1st its foreign ministry adopted rules that make it easier and cheaper for Cubans abroad to return.
Cuba is changing these rules because its economy is in dire shape. The pandemic, combined with restrictions imposed by the United States on travel and remittances, has shrunk receipts of foreign currency. The number of tourists is a quarter of what it was in 2019. A decline in foreign countries’ demand for Cuban doctors and nurses has reduced the island’s income. Energy shortages have hurt domestic production.
And so the government is seeking ways to tap the diaspora, which includes 3m people in the United States, for extra cash. According to the Havana Consulting Group in Miami, the 113,000 Cubans who visited the island between January and April this year spent more than the 500,000 Canadians who came in the same period. Cubans rent cars and spend freely in restaurants and shops and on beach holidays with family members living on the island.
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