Money talks, B*llshit walks (on looming tourism “boom!” to Cuba…what boom?” investors ask)

godfather-part-ii

As frequently mentioned hereabouts, you almost can’t fit any more tourists into Cuba. The place has long been almost maxed-out in this regard. 3 million tourists last year, for instance…Castro’s military among the biggest hotel owners in the hemisphere, for instance…In the Caribbean only the Dominican Republic gets more tourists.

And Dominican tourism officials (unlike Cuba “experts”) actually know the score on this issue. To wit:

“When contacted by Bloomberg, officials at the Dominican Tourism Ministry cited comments by Minister Francisco Javier Garcia in December, when he said that competition from Cuba is “nothing new” since the country has competed against its neighbor for tourists from Europe and Canada for decades.

Bond investors have also shrugged off the (U.S.) detente. Dominican dollar bonds have returned 13 percent since the Obama-Castro announcement Dec. 17, compared with a 6 percent gain for emerging markets, according to JPMorgan Chase & Co.’s EMBIG index.”