IBOV 175,739 ▼ 1.20% IPSA 10,928 ▲ 0.16% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL5.11▼ 0.55% USD/MXN17.48▼ 0.31% USD/CLP928.68▼ 0.45% USD/COP3,237▼ 0.78% USD/PEN3.40▼ 0.23% USD/ARS1,482▼ 0.07% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.31▲ 0.39% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.84▲ 0.25% BRENT 86.67 ▲ 4.05% WTI 80.10 ▲ 2.51% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.09% GOLD 4,034 ▲ 0.92% SILVER 58.29 ▲ 1.13% SOY 1,188 ▼ 1.19% CORN 457.50 ▲ 4.51% WHEAT 631.50 ▲ 0.72% COFFEE 335.40 ▼ 1.76% SUGAR 14.71 ▼ 0.27% ORANGE JUICE 140.25 ▼ 1.61% COTTON 82.00 ▲ 2.72% COCOA 5,734 ▲ 0.67% BEEF 230.83 ▼ 1.86% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.09 ▼ 0.87% KIMBER 38.20 ▲ 0.34% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,892 ▲ 1.05% ETH 1,799 ▲ 1.46% SOL 75.35 ▲ 0.65% XRP 1.07 ▲ 0.59% BNB 573.11 ▲ 1.14% ADA 0.16 ▲ 1.76% DOGE 0.07 ▲ 0.58% AVAX 6.48 ▲ 0.56% LINK 8.02 ▲ 1.81% DOT 0.84 ▲ 0.77% LTC 43.86 ▲ 0.85% BCH 238.61 ▲ 1.01% TRX 0.32 ▲ 0.27% XLM 0.18 ▲ 1.08% HBAR 0.07 ▲ 0.29% NEAR 2.03 ▲ 5.65% ATOM 1.54 — 0.00% AAVE 97.08 ▲ 2.88% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,299 ▼ 0.59% USD/ZAR16.40▼ 0.47% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY161.91▼ 0.33% USD/CNY6.77▼ 0.20% DAX 24,893 ▼ 0.88% CAC 8,300 ▼ 0.77% FTSE 10,459 ▼ 0.38% MIB 52,589 ▼ 0.42% IBEX 19,164 ▼ 0.89% STOXX 637.67 ▼ 0.52% EUR/USD1.15▲ 0.59% GBP/USD1.34▲ 0.31% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.51 ▲ 2.04% USD/CAD1.41▼ 0.43% US10Y 4.6090 — 0.00% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▲ 0.16% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL 5.11 ▼ 0.55% USD/MXN 17.48 ▼ 0.31% USD/CLP 928.68 ▼ 0.45% USD/COP 3,237 ▼ 0.78% USD/PEN 3.40 ▼ 0.23% USD/ARS 1,482 ▼ 0.07% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.31 ▲ 0.39% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.84 ▲ 0.25% BRENT 86.67 ▲ 4.05% WTI 80.10 ▲ 2.51% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.09% GOLD 4,034 ▲ 0.92% SILVER 58.29 ▲ 1.13% SOY 1,188 ▼ 1.19% CORN 457.50 ▲ 4.51% WHEAT 631.50 ▲ 0.72% COFFEE 335.40 ▼ 1.76% SUGAR 14.71 ▼ 0.27% ORANGE JUICE 140.25 ▼ 1.61% COTTON 82.00 ▲ 2.72% COCOA 5,734 ▲ 0.67% BEEF 230.83 ▼ 1.86% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.09 ▼ 0.87% KIMBER 38.20 ▲ 0.34% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,892 ▲ 1.05% ETH 1,799 ▲ 1.46% SOL 75.35 ▲ 0.65% XRP 1.07 ▲ 0.59% BNB 573.11 ▲ 1.14% ADA 0.16 ▲ 1.76% DOGE 0.07 ▲ 0.58% AVAX 6.48 ▲ 0.56% LINK 8.02 ▲ 1.81% DOT 0.84 ▲ 0.77% LTC 43.86 ▲ 0.85% BCH 238.61 ▲ 1.01% TRX 0.32 ▲ 0.27% XLM 0.18 ▲ 1.08% HBAR 0.07 ▲ 0.29% NEAR 2.03 ▲ 5.65% ATOM 1.54 — 0.00% AAVE 97.08 ▲ 2.88% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,299 ▼ 0.59% USD/ZAR 16.43 ▼ 0.18% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 161.75 ▼ 0.42% USD/CNY 6.7669 ▼ 0.06% DAX 24,893 ▼ 0.88% CAC 8,300 ▼ 0.77% FTSE 10,459 ▼ 0.38% MIB 52,589 ▼ 0.42% IBEX 19,164 ▼ 0.89% STOXX 637.67 ▼ 0.52% EUR/USD 1.1450 ▲ 0.55% GBP/USD 1.3429 ▲ 0.60% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.51 ▲ 2.04% USD/CAD 1.4076 ▼ 0.54% US10Y 4.6090 — 0.00%
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Tuesday, July 14, 2026

Travel Central America

Cuba’s Vanishing Tourists And The System That Keeps Them Away

By · November 7, 2025 · 2 min read

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Cuba is losing the race to bring travelers back. From January through September 2025, the island drew about 1.37 million foreign visitors—roughly 20 percent fewer than the same period last year—making it unlikely to top 2024’s already weak total of 2.2 million.

For an economy that leans heavily on services and needs hard currency, that shortfall bites. The picture on the ground explains why. Power cuts roll through cities, fuel is scarce, and basic goods can be unpredictable.

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Resorts often keep the lights on with generators, but outside those zones the strain is visible—in transport, restaurants, and small suppliers that turn a vacation into an economy-wide paycheck.

Canada still provides just over 40 percent of arrivals, yet even that flow has thinned. Trips from the United States are softer and Russian tourism has dropped by more than a third.

One bright spot is Argentina, where a stronger currency has nudged outbound travel up. Airlines and tour operators see the same signals and are cautious with capacity.

Cuba’s Vanishing Tourists And The System That Keeps Them Away. (Photo Internet reproduction)
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The story behind the story is policy. Decades-old U.S. restrictions complicate banking and payments, but Cuba’s deeper drag is internal: a state-first model that underinvests in infrastructure, sends mixed signals to private enterprise, and leaves too little room for competition to raise standards.

Cuba’s tourism slump exposes deeper economic strain

In 2024, the economy shrank 1.1 percent—its second annual contraction—underscoring how brittle the system has become.

Where rules are clear, property rights respected, and small businesses can scale, tourism tends to ripple into better roads, more flights, steadier supplies, and higher household incomes. Where central control and rationing dominate, those ripples fade.

Why this matters to outsiders: fewer visitors mean tighter government budgets, more pressure on imports, and rising incentives for people to leave.

Travelers may face thinner route networks and higher fares; businesses weighing Cuba will see higher operating risk and uneven service.

The path to a healthier season is not mysterious—reliable power, predictable rules, and space for entrepreneurs and outside capital to build.

Cuba’s beaches and culture are enduring assets. The question is whether the system around them will finally let those assets work for the whole island.

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