Cuban shoppers helping to keep Guyana’s economy afloat – Demerara Waves
October 27, 2016 Comments
The steady flow of nearly 1,000 Cubans coming to Guyana every week to shop mainly clothing is being widely hailed as good for this South American country’s economy at a time when there is much talk about sluggishness and over-reliance on gold to prop up revenues.
While cambio (foreign exchange) dealers experience mixed fortunes as far as how much United States dollars the Cubans change, one of them says the Spanish-speakers are helping to keep many businesses in Guyana afloat.
Some estimates are that they will account for almost GYD$400 million annually in the purchase of goods alone.
This is according to one cambio dealer from a popular cambio on Regent St., could be good for Guyana’s economy. Speaking with Demerara Waves Online News, the dealer stated that the Cubans are “helping out a lot of businesses here”. He revealed that, “it’s about 200 and something Cubans on each flight…nearly a 1000 people coming a week from Cuba…so you could understand the amount of money that’s coming in. And they are buying from all the businesses and so on…if it weren’t for the Cubans, the businesses would have been very slow, I don’t know what would’ve happened here.” This dealer was of the view that if the number of Cubans in Guyana were to dwindle, Guyana would be in a bad shape. [Read more]