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Corruption is one macro factor affecting foreign investment in tourism. Government officials engage in corruption acts especially when it comes to licensing a company kick-off its operations. During taxation, some companies also bribe officials to pay less tax. There is also a tendency of misappropriation of funds obtained from the industry. Locals end up not benefiting from these operations hence negative attitudes towards it.

Government policies such as taxation are risk factors as they impose heavy taxes on the companies. This factor drives away most companies due to unfavorable investments environment. The locals end up not benefitting as opposed to when the taxes were low hence attracting investment (Cunliffe, 2).    Additionally Cuba is an environment where there is high government control over private businesses. This keeps of most foreign investment or denies them freedom to operate in manner that they want.

 Mitigation measures

  • Reducing taxation burden on foreign investors
  • Reducing bureaucratic measures
  • Arresting all corrupt officials within.
  • Diversification of operations of tourism.

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