Cuba has reintroduced cash payment in foreign currency (Canadian dollars, U.S. dollars and Euros) in stores and hotels. This measure seeks to facilitate visitor transactions and revitalize the local economy.
As of August 1rst, according to an information confirmed by the Cuban Tourist Office and expanded by the Canadian magazine specialized in tourism, Travel Week, Canadian tourists can make cash payments using Canadian dollars or by credit cards or with debit cards from Canadian banks at any establishment on the island.
To date, Cuba has received 600,000 visitors from Canada and expects to reach 1 million before the end of the year. The possibility to pay cash in Canadian dollars is seen as a key strategy to encourage tourists to visiting the island.
The foreign currency cash payment option had been suspended in 2021 due to economic difficulties exacerbated by the COVID-19 pandemic. However, in a recent address to Parliament, Cuban Prime Minister Manuel Marrero Cruz announced the return of this measure as part of a broader effort to capture cash and reduce economic losses.
The decision to accept Canadian dollars in cash comes at a crucial time for the Cuban economy, which faces significant challenges. Flexibility in payment options could be a decisive factor in attracting more tourists and strengthening the sector, one of the country’s main sources of income.
With information from the Cuban News Agency / Translated by Radio Angulo
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