Cuba

Remittances support budding Cuban economy

BY JACK EVANS

evansjm4@miamioh.edu
Workers load bags, some containing remittances, off of a recently arrived U.S. Airlines charter flight to Havana.
Workers load bags, some containing remittances, off of a recently arrived U.S. Airlines charter flight to Havana. Photo by Jack Evans

Despite the U.S. trade embargo on the island of Cuba, many Cuban-American families are supporting the economic recovery and growth of their relatives through remittances.

The total value of Cuban remittances in both cash and goods in 2015 was estimated to be over $3.3 billion by The Havana Consulting Group, a business consulting firm specializing in Cuban marketplaces. This figure places remittances as the largest source of cash in the Cuban economy.

Read more at InCubaToday.

This story was originally published July 11, 2016 at 1:43 PM with the headline "Remittances support budding Cuban economy."

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