Free circulation of euro hits a big stride in Cuba’s Guardalavaca
The free circulation of the euro in the Cuban destination of Holguin since June 1 has started with flying colors among travelers, especially European vacationers enjoying the delights of this tourist circuit of the island nation.
All hotel and extra-hotel services from stores and malls to bars and restaurants are accepting the European currency at the Guardalavaca, Pesquero and Esmeralda beaches, as well as at the Frank Pais International Airport. The euro is also moving westbound to the sun-and-beach destinations of Santa Lucia in Camaguey and Las Tunas’ Covarrubia Beach. The European currency has been going strong in Cuba since it started making the rounds in Varadero, Cayo Largo del Sur and Jardines del Rey in late 2002.
The euro is coming to this territory at a time when roughly a third of tourists checking in at hotels in Guardalavaca, Pesquero and Esmeralda hails from twelve of the European Union countries, including Germany, one of the biggest tourist senders second only to Canada.
Since last June 1, all commercial and financial institutions in this tourist zone kicked off making operations in euros and providing guests with the possibility of picking their currency of choice.
Nevis Leiva Sanchez, an expert from the Tourism Minister in the province, explained this experience helps the country be more competitive compared to other Caribbean tourist destinations. The system now allows tourists to have access to all hotels, extra-hotel services, entertainment, car rentals, stores, restaurants and others amenities without being forced to change their currency.
During the first month of its implementation, price tags in euro will be subjected to an official conversion rate to the dollar tacked on all goods and services. The move will be made by the Tourism Financial House (FINTUR).
Natural persons, both foreign and national, will be entitled to pay for goods and services using any legal tender note ranging from 5 to 500 euros, as well as the one-euro and two-euro bills. Coins won’t enter circulation yet. All sale outlets and services will accept credit cards as long as they have not been issued by U.S. banks.
