Jennifer Olmedo-Rodriguez, a shareholder in Buchanan's Miami office, was quoted in an article in Women's Wear Daily regarding the opportunities that exist for U.S. businesses and tourism entities in Cuba.
Given the immense interest in investment in the isolated island-country, businesses are wondering how quickly they can overcome the hurdles and take advantage of the opportunities.
“Until Congress formally repeals the embargo, business opportunities for U.S. companies in tourism and tourism-related spending in Cuba are limited,” Olmedo-Rodriguez added. “The state of the infrastructure in Cuba cannot currently support the anticipated influx of tourists. Thus the time necessary to ramp up the tourism industry in Cuba will be directly tied to the ability of the country to modernize and update their infrastructure to support the development of general tourism from the United States; something that will likely take years.”
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