CUBA NEWS
October 13, 2005

Survey says S. Florida execs bullish on post-Castro Cuba 3b5a1a

By Doreen Hemlock, Business Writer. Posted October 13 2005 in the South Florida Sun-Sentinel.

A majority of executives interviewed in South Florida would be interested in doing business with a post-Castro, democratic Cuba, a survey released Wednesday shows.

Hispanics surveyed are most interested in expanding business into neighboring Cuba after Fidel Castro leaves power. But a majority of Anglo and black executives also voiced interest, according to the poll commissioned by Miami-based South Florida CEO magazine.

A majority interviewed also think a democratic Cuba would have a positive impact on South Florida and their particular industry, said the survey conducted by Coral Gables-based polling firm Bendixen & Associates.

The results are based on phone interviews with 417 business leaders and high net worth individuals in Miami-Dade, Broward and Palm Beach counties. The interviews were conducted in English and Spanish during the first two weeks of September.

Nearly two-thirds of those surveyed are Anglo, almost one-quarter Hispanic and the rest black. About one-fourth are women, and about half live in Miami-Dade County. Those interviewed work in diverse fields including real estate, manufacturing, finance, trade, tourism and others.

The margin of error for the poll is 5 percentage points.

The survey comes amid continuing debate over Washington's four-decade-old embargo on most U.S. business with the communist-led island.

Among other chief findings:

>A total of 61 percent said a post-Castro Cuba would have a positive impact on their type of business; while most of the rest predicted a negligible impact.

Those in import-export were most likely to forecast a positive impact; those in tourism most likely to predict a negative impact.

>About half of South Floridians with high net worth are likely to personally invest in a democratic Cuba. About 70 percent of Cuban-Americans mention Cuban heritage and even "a sense of duty" as the reason they'd plan to invest in a post-Castro Cuba.

South Floridians investing their own assets would most likely invest in a second home or in commercial properties on the island after Castro.

>Broward business leaders were more likely to be concerned about competition from a post-Castro Cuba than counterparts in Miami-Dade and Palm Beach counties.

Doreen Hemlock can be reached at [emailprotected] or 305-810-5009.

Copyright 2005, South Florida Sun-Sentinel


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