Cuba

Business Opportunities in Cuba for UK Exporters
1. Introduction & Snapshot

Cuba, with a population of 11 million, has a centrally planned economy transitioning slowly toward market reforms. The country offers unique UK export opportunities in tourism, healthcare, renewable energy, and agriculture, despite political and regulatory constraints.

2. Economic Overview

GDP (2023): ~USD 120 billion
Growth: 1–2%

Key sectors:

Tourism: leading source of foreign currency

Healthcare & biotechnology: strong state-driven R&D

Agriculture: sugar, tobacco, citrus, coffee

Energy: growing interest in solar and wind

3. Trade Relations with the UK

UK exports: machinery, pharmaceuticals, vehicles, IT, beverages

UK imports: rum, tobacco, sugar, pharmaceuticals

Bilateral trade is modest; opportunities exist with reforms and tourism growth

4. Market Opportunities

Tourism & Hospitality: Hotel development, eco-tourism, service training

Healthcare & Biotech: Medical equipment, pharmaceuticals, joint research

Renewable Energy: Solar, wind, biomass solutions

Agriculture & Agritech: Irrigation, post-harvest processing, organic products

5. Regulatory & Business Environment

Complex bureaucracy; approvals required from state entities

Currency controls and import licensing can delay business

Legal reforms are gradually creating incentives for foreign investment

IP protection exists but enforcement is limited

6. Cultural & Consumer Insights

Business culture: hierarchical, relationship-driven, highly formal

Spanish is essential

Consumers are price-sensitive but urban middle-class segments seek quality and imported goods

7. Challenges & Risks

Political and economic uncertainty

Limited access to foreign currency and finance

Infrastructure limitations

Regulatory unpredictability

8. Case Study

UK firms have supplied hotel and hospitality training, renewable energy consultancy, and medical equipment, demonstrating that long-term engagement and niche expertise are critical.

9. Practical Entry Tips

Partner with government-approved local distributors or joint ventures

Focus on high-value sectors: tourism, healthcare, renewables, agritech

Invest in relationship-building and understanding regulatory requirements

10. Conclusion

Cuba offers unique but complex opportunities for UK exporters. Success requires patience, cultural understanding, and focus on sectors supported by government priorities.