Yet there is a lot of uncertainty about the potential opportunity in Cuba. Despite the country's proximity, most U.S. executives know very little about how its economy functions. Quite simply, those considering a move into Cuba lack the facts needed to make smart business decisions.

Research shows that Cuba's GDP growth will increase by 2 percent to 4 percent annually over the next five years. That is a conservative estimate; Cuba’s GDP has risen by 5 percent to 6 percent in recent years. But the country has the potential for even faster growth over the long term. For that to happen, however, Cuba will need to take decisive, comprehensive measures to overcome structural limitations on its economy—by improving infrastructure, attracting foreign capital, and continuing to open its markets. In addition, the U.S. government will have to further ease trade and travel restrictions.

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