The Cuban tourist industry, a dynamic element in the domestic economy, is included among the priorities of the foreign investment law in order to ensure the flow of foreign capital for its expansion.
The new legislation, which is supported by the Parliament within the updating of the Cuban economic model, grants preference to 11 economic sectors including tourism as a priority.
According to estimates informed by authorities, Cuba needs between 2.0 and 2.5 billion dollars a year in direct foreign investments in order to annually grow in about 7 percent.
Undoubtedly, the Cuban tourist industry, supported by the traditional sun and beach offers, as well as the nature, cultural and historic options, plays a key role in business terms.
The hotel infrastructure in the Cuban archipelago comprises 60,500 hotel rooms and provisions for 2020 aim at about 85,000.
In addition, Cuba operates three cruise ship terminals, seven marinas and ten international airports.
In addition, Cuba has 26 joint ventures, including 12 which involve 15 hotels with a combined number of 5,499 rooms in the four- and five-star categories.
Meanwhile, there are 62 hotel management contracts penned with 17 foreign companies including 13 from Spain, one from Canada, one from Jamaica, one from Portugal and one from France, totaling 31,277 rooms.
In Cuba, the gastronomic offers, as well as the cinema, literature and plastic art events are combined with first-class sport tournaments in order to create additional alternatives for the tourist industry, in which golf is starting to play an important role.
The main Cuban sun and beach destination, in the western area of the island, has the Varadero Golf Club which is characterized by fresh and pure air, beautiful vegetation and peace, all indispensable elements in the practice of the discipline.
The abovementioned environment will be complemented by a project agreed between Cuba and the British company Esencia Group, which is aimed at constructing a second golf court in Varadero, with an investment close to 350 million dollars.
The complex also includes a resort with 650 cabins and apartments, as well as a hotel and a club with tennis courts and different options for nautical sports.
The mid- and long-term plans comprise 16 golf courts across the country at an estimated cost of 1.5 billion dollars.
In this sense, Cuba is getting ready to compete with important tourist destinations in the Caribbean which already have several courts to practice the sport.
In order to meet the current golf standards, Cuba will have to compete with tourist destinations such as Cancun and the Maya Riviera, in Mexico, and Dominican Republic which already have about 50 certified golf courts.