User:Rramse14

Foreign Investment

International investment was an important aspect to the economy of Cuba. Foreign investment increased the country’s existing tourism by improving and building on to what was already established. The willingness to accommodate foreign investors had led to a significant impression on Cuban tourism. In the mid-1980s in order to draw more investment into the country, Cuba started to promote joint ventures. A joint venture was a “legal entity consisting of one or more Cuban parties and one or more foreign investors,” these ventures could take place as corporations or partnerships. In 1995 Law No. 77, the Foreign Investment Law was enacted by the National Assembly to encourage foreign investments within Cuba. The law provided the legal framework of foreign investments. These investment opportunities allowed the state direct initiatives to act and also offer incentives to make investing more attractive to foreign investors. Joint ventures were arranged for the specific purpose of promoting Cuba’s economic development through profit-making activities. Allowing Cuba to be a domestic partner and the host government, which eventually led to problems of the state being too involved in decisions.

Political tourism

Displaying Cuba’s political system and its various institutions in the most favorable light to foreign visitors was very significant in Cuba. Not only are Cubans trying to appeal to foreign tourists but also to foreign investors. Cuba’s socialist economy allowed for them to focus on smaller sectors and maintain control over resorts, hotels, transportation, schools, clinics, and other economic resources. Which allowed them to shape the image of their country to impress the foreign visitor. Political hospitality aimed to strengthen favorable attitudes among visitors/investors by catering to the tourist and also aimed to control the presentation of how the country is portrayed and seen.