Cuban government eyes foreign investment for waterpark and theme park projects

Cuba’s government has announced plans to boost its tourism infrastructure by courting foreign investment for proposed theme and waterparks.

Reinaldo Daniel Alonso, director of Development, Investment and Business for the island nation’s Ministry of Tourism, has said up to 140 joint venture projects could be included in a portfolio set to be unveiled in November at the Havana International Fair – the largest annual multi-sector trade fair in Cuba.

According to the minister, while the island’s major goal is to increase its hotel capacity to accommodate a surge in tourism related to improving US relations, proposed projects include a number of non-hotel investments, with waterparks and theme parks at the top of the wish list, while golf courses and real estate are also on the agenda.

Cuba’s tourism development plan is anchored by the construction of 224 new hotels in addition to the expansion of 32 existing ones by the end of 2030. This would boost the number of available rooms in the country from 67,000 to 103,000.

Cuba’s thawing relationship with the US paid dividends in 2016, with the island nation’s visitor numbers hitting record levels last year.

For 2016, Cuba welcomed four million tourists, up 13 per cent over the previous year’s figures, which had already leapt 36 per cent over a five-month period following a landmark agreement with the US in 2015.

For 2017, the tourism ministry is predicting more than 4.1 million visitors, boosted by a significant increase in access to international flights, with several US carriers flying to the country daily and European operators including Virgin Atlantic also launching weekly flights.