Meliá says Cuba is hardest hit market worldwide, drops three hotels
Source : Johannes Werner Thu Mar 18, 09:56 pm ESTFollowing a miserable year with just €1.9 million in revenues in Cuba, the No. 1 hotel operator in the country dropped three aging all-inclusive beach resorts in remote locations, including the Sol Cayo Largo (r.), which opened in 2000. Previous Top Stories
Economy
UN funds $23.9m coastal resilience project in Cuba
The U.S.-appointed member of the Green Climate Fund voted against the Cuban project
After a decade, power project to go online
Official calls on emigrés to invest
Cryptocurrency in Cuba: Opportunities and limitations
Companies
Australian miner eyes second gold project
Canadian solar farm operator makes Cuba move
Australian oil junior contracts Sherritt for onshore drilling
German water processing company forms joint venture
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Data & Maps
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Less dependency on goods exports — in part due to a collapse of production
Cuba is no longer a country whose economy depends solely on the export of goods. This is not necessarily good news, however, because this change happened not only due to a diversification of sources of income — which has indeed been implemented — but because it is also the result of a collapse in the production of exportable goods.
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A first for Havana: The Jan. 27 tornado and its destruction
According to the construction ministry, 3,780 dwellings were affected; of those, 372 are completely destroyed, 518 are partially destroyed. More than 500 roofs were lost and more than 1,800 damaged.
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Cuba’s crude oil and natural gas output has practically been stagnating since 2003.
In fact, production of oil fields in the old Havana province (now Mayabeque province), including those of Guanabo, Boca de Jaruco, Santa Cruz and Puerto Escondido, decreased by one-third (-32.1%) over the past 10 years, from a record 1.87 million tons of oil, or 32,350 b/d*.
Meanwhile, yields in Matanzas province helped offset the decline in Havana/Mayabeque. Oil output at the Seboruco, Varadero-Cárdenas, Cantel and Majaguillar fields grew by one-third (34.4%) in the same period, to a record 1.54 million tons or 26,670 b/d in 2015.
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CSETI
Cuba Standard Economic Reports 1
Cuba Standard Economic Reports 2
