International businesses are increasingly pulling out of Cuba, adding further strain to an economy already facing severe challenges. Several major foreign companies have either suspended operations, reduced their presence, or exited the country entirely amid worsening economic conditions and increasing pressure from the United States.

Starting Saturday, foreign visitors will no longer be able to use Mastercard or Visa cards in Cuba after the banking infrastructure supporting those transactions ceased operations on the island. Major Spanish hotel operators have also scaled back their activities, with multiple hotels being returned or closed due to declining tourism demand and ongoing energy shortages.

The situation has also raised concerns about the future of one of Cuba’s most important foreign investors, Canadian mining company Sherritt International. The company has faced growing operational difficulties, regulatory uncertainty, and management departures, leading it to suspend some activities and explore ownership changes.

Foreign investment has long provided Cuba with critical sources of hard currency, employment, technology, and business expertise. As more international firms depart, these benefits are becoming increasingly scarce.

The corporate retreat coincides with stronger U.S. measures targeting entities linked to the Cuban government and military. Recent actions by the administration of Donald Trump have expanded restrictions on organizations connected to Cuba’s military-controlled sectors, making it more difficult and risky for foreign companies to maintain operations on the island.

Cuba’s economy has been struggling with inflation, fuel shortages, frequent power outages, declining tourism, and a weakening currency. The loss of subsidized energy supplies from neighboring countries has further intensified these challenges. As economic conditions worsen, many Cubans have emigrated in search of better opportunities abroad.

Economists warn that the departure of foreign businesses could deepen Cuba’s economic crisis by reducing investment, limiting access to foreign currency, and slowing growth in key sectors such as tourism and mining. With few new investors showing interest, the country faces increasing difficulty attracting the capital needed to support economic recovery.