Recent Changes in U.S.-Cuba Relations: Implications for the Cuban-American Community

Abstract

Cuban Americans will likely be one of the key social actors in the reconstruction of the Cuban economy after the restoration of diplomatic relations between Cuba and the United States. They are already sending large sums of money, purchasing goods, transferring technology, and consuming services in the private sector of the Cuban economy. The role of Cuban-American remittances could be even more significant in the near future as sources of funding for independent business growth on the Island. However, in order to maximize the potential contribution of Cuban Americans to the Cuban economy, substantial changes in the laws and regulations established by both the Cuban and U.S. governments are necessary.