Circulation of euros in Cuba’s Varadero Beach is closely watched

Havana._ Cuba’s minister of tourism, Ibrahim Ferradaz, took a grand tour around some hotels and stores in Varadero to personally supervise the circulation of euros, a currency that made its debut in that destination last Saturday, the local press commented.

During his stay on the island nation’s premiere tourist center, Mr. Ferradaz watched Saturday the reception of the European unified currency in stores and cafeterias at the local international airport and dozens of hotels in that beach area.

The Cuban Minister confirmed the favorable opinion of tour operators and tourists about this action taken by the government in order to make this sector twice as much attractive for European Union’s visitors who launched the euro this year.

The free circulation of euros that kicked off last Saturday in Varadero –given the size of this particular destination- will “provide the necessary experience for the country’s other tourist circuits,” the Cuban Minister added.

The unified currency became Cuba’s legal tender note –exclusively limited to Varadero Beach this year- yet with good perspectives to spread all over the rest of the Cuban archipelago in 2003.

Therefore, euros are now flowing freely in Varadero’s hotels, cabs and other businesses related to the tourist industry in this circuit some 140 kilometers east of Havana. Up to now, the European currency had only been circulating in Guadeloupe and Martinique, two French overseas territories.

Official statistics indicate that 40% of travelers staying at Varadero come from Europe, a good reason for the implementation of this monetary strategy expected to spill over to the island nation’s other leisure centers, would positive results be achieved.

The euro –welcomed as the unified currency of most European Union’s member countries- counted from the very beginning on the enthusiastic support of Cuba’s president Fidel Castro, who eyed it as a strong competitor against U.S.