Varadero in Cuba - A Holiday Resort Where You Can Pay in Euro

With the purpose to promote the growth of Europeans travelers coming to Cuba, the famous Cuban holiday resort Varadero became since June, the 1st 2002 the first place outside the Europe continent, using the transaction currency Euro.

This new law was announced by Carlos Lage, Secretary of the Executive Committee of the Council of Ministers in Cuba during the International Tourism Fair of Berlin that took place in this year.

The news amazed lots of people, but at the same time it delighted them, because most of tourists traveling to Cuba come from the Old Continent and it obviously stimulates their presence and interest in this Caribbean nation.

So, since that date there are three currencies circulating in Varadero, located 140 km far from Havana City, the capital of the island: the Cuban convertible peso, the Cuban Peso and the Euro.

With this measure the Cuban authorities have contributed to the development of European tourism in the island, considering the significance of this touristic area with 20 km of fine sandy beaches and a solid hotel and services infrastructure, counting on a substantial affluence of German tourists.

Other authorities recognized opportunely that the details to put these changes into practice were stated together with some leading figures related to the change, in order to create conditions for taking this measure that later became successfully.

Nowadays this currency circulates not only in the countries taking part of the European Economic Community, but also in Cuba, specifically in Varadero. It allows a special attention to holidaymakers, coming from such countries.

Since 2000, the government of Cuba signed contracts with European tour operators and paid them with the mentioned currency. Later, due to its free circulation – at the beginning on an experimental basis- the business was consolidated.

Since this date, there is information about the exchange rate in each shop of Varadero, so that the tourist, while buying a product or a service, can perfectly know the current equivalences.

Therefore, each establishment has from that moment on enough currency to make the exchange in bills or in one or two euro coins. Regarding the fractional currency, the exchange is made for Cuban convertible pesos.

Credit cards in euros are accepted too, provided that they do not come from US-banks.

In Cuban bureaus de change, called "CADECA", the average exchange range about 20 Cuban pesos.

At least 300 million of people of the world use this currency, circulating physically since beginnings of 2002 in several countries like Germany, Italy, Spain, France, Belgium, Greece, Ireland, Luxemburg, the Netherlands, Austria, Portugal and Finland.

Europe is the main issuer of tourists to Cuba, particularly to Varadero. The order of issuers is Germany, Canada, United Kingdom, France, Italy and Spain.

The Euro appears in Cuba on January the 1st, 1999, and from 2002 on begins its free circulation. With those measures, the Cuban touristic authorities win a favorable place for several travelers coming from the Old Continent.

San Cristobal UK is a tailor-made Cuba holiday specialist and has a vast experience in organizing Cuba Holidays. This is one of a series of articles devoted to promote the Cuban Culture and to give information on what to do and see in your Holidays to Cuba.