Standard Of Living In Cuban Essay

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The average wage in Cuba for an adult is only $25 dollars per week. Although that sounds harsh, because of their communist state that may not be so bad. Because the government gives the necessities of life such as employment, education, and healthcare, they are not poor like many other struggling countries. Housing, food and even some entertainment is available at low cost to the people. The homeless rate is very low. Cuban’s would rather overcrowd there own home than to let friends or family stay on the streets. With the Soviet Union crashed in 1990, it crippled the economy in Cuba. The Soviet Union stopped lending support in 1991 and then it got very bad. The standard of living declined drastically. The Cuban government refers to the economic …show more content…

With this deal, Cuba was able to double its import capacity and to carry out multibillion-dollar investments. In 2008, three hurricanes hit cuba and battered the economic situation. It was so bad at the time that many believed that the system could not recover. Tourism figures prominently in the Cuban Government's plans for development, and a top official casts it as at the "heart of the economy." Havana devotes significant resources to building new tourist facilities and renovating historic structures for use in the tourism sector. Roughly, 1.7 million tourists visited Cuba in 2001, generating about $1.85 billion in gross revenues; by 2010 that number was 2.53 million, and had generated $2.4 billion (Cuba's Economy). The currency of Cuba is the Cuban Peso (CUP), and is broken down 100 centavos (cents). The government introduced the Cuban Convertible Peso (CUC) to replace foreign currency as many family members were sending money back to Cuba. Cuba implemented so that they could tax 10% of every CUC. The CUC cannot be used outside of Cuba because is in place to replace all currencies. US Dollars were widely accepted throughout the island, but since 8 November 2004 US Dollars are no longer accepted, and a 10% commission is charged to exchange them (Cuba's

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