So apparently, Stephen Ross, the billionaire real estate developer, isn’t bullish on Cuba.
Here’s what he told CNBC’s Squawk Box …
You hear a lot about Cuba. You hear a lot about what opportunities there might be in Cuba. I didn’t find there were lot of great opportunities. It was like going back in time.
Number one – “Going back in time” represents a huge opportunity for tourists and globe-trotters who would love nothing more than to visit a land that “goes back in time.”
As reported by the Associated Press, the number of Americans visiting Cuba has increased by 36% compared to last year (between January and May). Being that it’s still a bit of a hassle to get there, a 36% increase in U.S. tourism is pretty damn impressive.
Also worth noting is that another 13,000 Americans visited Cuba via third countries. This represents a 57 percent increase over last year.
Number two – Ross said that he didn’t find that there were a lot of great opportunities.
Well, I suppose it all depends on what you’re looking for.
While Ross couldn’t find any opportunities that suited him, there are plenty of other business leaders that are making the important connections today in an effort to facilitate new opportunities in the future.
Certainly U.S. farmers see a huge opportunity here, not to mention the tourism industry, the shipping industry, aviation, telecommunications, and the auto industry.
As well, in a somewhat altruistic endeavor, it will be nice to offer Cuban farmers and entrepreneurs an opportunity to take part in this new relationship.
In any event, while Stephen Ross was unable to see much opportunity in Cuba, I don’t think investors should be dissuaded from investigating Cuba for their own possible investment opportunities. Because without a doubt, Cuba represents a once-in-a-lifetime shot at getting in on the ground-floor of something that could be very, very big.
Here’s more …
