Cuba’s Economic Crisis Triggers Mass Exodus July 24th, 2024
Via Semafor, a look at the dramatic impact of Cuba’s economic crisis:
More than 10% of Cuba’s population left the island nation between 2022 and 2023, prompted by a severe economic downturn and a widening government crackdown.
Despite allowing the creation of private businesses for the first time in decades, the country’s state-run economy has collapsed as growth in Venezuela and Russia, on which Cuba relies, has slowed in recent years.
But Cuban migrants are faced with host nations that are increasingly hostile to migration: Both Europe and North America have tightened their restrictions on foreign labor, even as they depend on workers to fill shortages, a move that could prove “immensely damaging to [their] economies,” The Economist argued.
This entry was posted on Wednesday, July 24th, 2024 at 12:35 pm and is filed under Cuba. You can follow any responses to this entry through the RSS 2.0 feed.
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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.
Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.