Last updated: October 2026
Many travelers wonder if this is the right time to go to Cuba. The country is in the midst of a severe economic crisis. Food, medicine, fuel, water and electricity are not self-evident and prices are changing rapidly. Transport can also be affected by fuel shortages and power outages.
Traveling to Cuba nowadays requires good preparation, also financially. The circumstances can change quickly and therefore it is important to know what to expect.
Would you like to know more about the current situation, safety and the official travel advice? Then read my page ‘Travel safely in Cuba’.
Anyone who visits Cuba now sees two worlds side by side. In private casas, restaurants and small businesses, much more is often possible than for Cubans who have to make ends meet on a local salary or pension. Tourism remains an important source of income for many families. By staying overnight, eating, arranging transport and booking excursions, a larger part of your money ends up directly with Cuban families.
At the same time, I think it’s important to be honest: shortages, power outages and problems with transport or fuel can also affect your trip.
Payment in Cuba
The official currency is the Cuban Peso (CUP). The old CUC no longer exists since 2021.
Paying in Cuba has changed a lot again. Since June 2026, international Visa and Mastercard cards no longer work as travelers were used to and you cannot withdraw money from Cuban ATMs with an international card. Cuban prepaid cards exist, but I would not fully trust them either. Therefore, take enough cash with you for your entire stay and a reserve for unexpected costs. For European travelers, cash euros are especially practical.
Don’t just take large bills with you. €5, €10 and €20 bills are extremely useful for smaller payments.
Exchange rates
This is where things get complicated. Cuba has official exchange rates, while there is also an informal market where the Cuban peso is valued differently. As a result, you can come across amounts that are very different from each other.
I consciously put No fixed exchange rate More on this website. The situation is changing so quickly that an amount that is correct today may be obsolete in a short time.
Officially, you can exchange money at CADECA, at the airport and at certain state hotels, among others. Exchanging on the informal market is not legal and involves risks. In addition, do not exchange more CUP than you think you will need: Cuban pesos cannot be used outside Cuba and exchanging is difficult.
Just before departure, ask your casa, driver or other reservations how you can pay. What works practically today may be different in Cuba in a few months.
What does the economic crisis mean for Cubans?
For Cubans themselves, the financial reality is much more complicated. Salaries and pensions are paid in CUP, while the prices of many basic products are hardly proportional to local incomes.
As a result, many people need a second source of income in addition to their official job, receive help from family abroad or try to earn something extra in tourism. So don’t be surprised if your waiter is actually a teacher, engineer or doctor by profession. For many families, income from tourism makes a huge difference.
The difference between prices, exchange rates and local salaries shows how great the economic pressure is. As a traveler, you inevitably get something from that.
Why Cuba?
Despite all the difficulties, Cuba is still a special country, and it is important not to romanticize the problems, but it would be just as wrong to forget what is there.
Cuba has snow-white beaches and clear blue water, special landscapes, colonial cities, music, salsa, vintage cars and a culture that you won’t find anywhere else. And above all: people who, despite incredibly difficult circumstances, often show enormous hospitality and zest for life.
A trip through Cuba doesn’t always go according to plan. Maybe the power goes out. Maybe your transport changes. Maybe something that was available yesterday is no longer on the menu today. If you’re just looking for comfort and predictability, you’ll probably find Cuba difficult right now.
But those who are well prepared, flexible and interested in the real daily life on the island will get to know Cuba in a completely different way.
And your presence can also mean something. Money that you spend directly with a casa particular, local driver, guide, restaurant or other small business ends up with people who desperately need that income.
Would you like to know what is feasible at the moment, what you need to arrange in advance and how you can prepare your trip in the best possible way? Please feel free to contact me.