The growing political and economic uncertainty in Cuba is causing a progressive withdrawal of some of the main Spanish companies present on the island. Airlines, hotel chains, and tour operators have begun to drastically reduce their activity or, directly, to abandon the country due to the deterioration of the internal situation and the tightening of pressure exerted by the United States.
The most visible decision has been that of Iberia, which suspended its operations with Havana this Monday, after having announced months ago the closure of the route.
Added to this is the departure of World2Fly and the massive reduction of the Spanish hotel presence, a move that threatens to alter one of the most important economic pillars for the Cuban regime: international tourism.
Washington's New Pressure
The situation has worsened notably after the approval in the United States of Executive Order 14404, a measure that expands Washington's room for maneuver against companies that maintain economic relations with sectors considered strategic for the Cuban government.
The regulation contemplates the possibility of freezing assets in US territory of those companies that operate or collaborate with activities linked to areas such as energy, mining, defense, or the island's security.
Although many Spanish companies develop their activity mainly in the tourism sector, the legal uncertainty generated by the measure has set off alarms among the large European business groups with a presence in Cuba.
The Retreat of Spanish Hotel Chains
The first consequences are already visible.
The Minor Hotels chain abandoned at the beginning of the year the management of the two establishments it operated in Havana under the NH brand. Subsequently, Meliá announced the cessation of the operation of fifteen hotels, while Iberostar will stop managing another twelve establishments.
Meliá itself had already warned in May of the deterioration of the situation, announcing the closure of approximately half of its operational capacity on the island.
The company closed the first quarter with an occupancy of 34.1%, well below the group's average and significantly lower than that registered a year earlier.
Tourism Plummets
The business crisis coincides with a sharp deterioration of tourism indicators.
According to data from Cuba's National Office of Statistics and Information, the arrival of foreign visitors plunged by 55.8% during the first four months of the year, with just 328,608 tourists registered.
The decline directly affects an economy that critically depends on foreign currency inflows from tourism.
In recent years, Havana had placed much of its economic recovery expectations on the arrival of international visitors. However, energy difficulties, supply problems, inflation, and deteriorating infrastructure have significantly weakened the destination's appeal.
From the Spanish tourism sector, it is acknowledged that marketing trips to the island has become especially complicated.
The National Union of Travel Agencies (UNAV) admits that the drop in bookings is proving to be very significant and that numerous clients are opting for alternative destinations such as Riviera Maya, Punta Cana, or Cape Verde.
Air Europa resists, for now
Amidst the widespread withdrawal, Air Europa is maintaining its connections with Havana for the time being.
The evolution of the situation has led both the Spanish government and European institutions to constantly monitor developments.
Pedro Sánchez's administration assures that it maintains permanent contact with affected companies to assess potential economic and operational impacts.
For its part, the European Commission has acknowledged that several EU companies are considering reducing or ceasing their activity in Cuba and has confirmed that it is closely following the crisis's evolution.