I should also add when I talk about average Cubans it isn't like the US where 50% makes less than 40k and 5% 200k+.
It's more like 95% make less than $100 / month
4.4% make $100-$500
0.45% make $500-$1000
0.05% make $1000+
A girlfriend of mine is aunt has been working nearly 30 years. In no single calendar month has she made more than $100 and much of the time has been spent running her own small businesses.
That would be a reasonable estimate to the break down of incomes. Some places higher in Cuba while others lower. It's not as though while 90% of the population is poor 10% is well enough off to purchase a variety of American services. We are talking about a population with drastically low incomes from top to bottom.
The top rank is income is dominated by those working in the underground economy and those with money abroad that funds businesses that attract large volumes of foreign purchasers i.e. high end restaurants. Some taxi drivers may sneak in but without consistency.
Of Cubans living in Cuba who never emigrated, I'd be shocked if there were more than 50 millionaires. About 40 of those would probably be those whose main asset is a house that was inherited and for all intensive purposes not sellable at anywhere near what they'd want for it. 10 of those people through some combination of entrepreneurship perhaps attained a million dollars in a variety of assets / investments. Gente de Zona's artists would be the obvious example of potential millionaires who live in Cuba with their recent grammy award + second big hit with Marc Anthony they may have or will atleast have the potential to become millionaires despite living in Cuba. I'm sure there are a couple painters who have became wealthy as well. A couple business man who own exceptionally successful restaurants over a long period of time like Los Nardos may have surpassed the mark as well.
Of those in the top rank of incomes the vast and I mean vast majority would be making sub $2,000 / month. An elite few make more. In the 100k + year mark you can count the number of individuals between your toes and fingers. Many of them would get there due to a rare event such as selling their primary residence. A couple of restaurant owners will consistently reach that mark. Remember the state owns almost all nightlife residences. Despite this a recent proliferation of privately owned bars has been allowed. A few of these would make over 100k but often the owner is really a Cuban abroad with a front man who is well paid but by no means making 100k / year. Keep in mind as well it's not as though there are manufacturing facilities owned by private individuals outside of the odd furniture making unit with a couple of friends working at it.
Heres an article on Vietnam...There were 170 USD millionaires in 2012...Vietnam has almost 9 times the population of Cuba.
http://english.thesaigontimes.vn/24186/M...idens.html
This is a country that has opened up for a while. The reason there may be more techincally paper millionaires in Cuba is due to vastly overpriced housing despite a supply thats miles beyond demand leading to almost nothing selling especially amongst higher end homes.
The income situation in Cuba will hardly change in the coming years. Some restaurant owners will get richer. A few more people will make decent incomes. But even a 100% increase in income person it's really negligible for purchasing power when the average person is making less than $100 / month.
It's more like 95% make less than $100 / month
4.4% make $100-$500
0.45% make $500-$1000
0.05% make $1000+
A girlfriend of mine is aunt has been working nearly 30 years. In no single calendar month has she made more than $100 and much of the time has been spent running her own small businesses.
That would be a reasonable estimate to the break down of incomes. Some places higher in Cuba while others lower. It's not as though while 90% of the population is poor 10% is well enough off to purchase a variety of American services. We are talking about a population with drastically low incomes from top to bottom.
The top rank is income is dominated by those working in the underground economy and those with money abroad that funds businesses that attract large volumes of foreign purchasers i.e. high end restaurants. Some taxi drivers may sneak in but without consistency.
Of Cubans living in Cuba who never emigrated, I'd be shocked if there were more than 50 millionaires. About 40 of those would probably be those whose main asset is a house that was inherited and for all intensive purposes not sellable at anywhere near what they'd want for it. 10 of those people through some combination of entrepreneurship perhaps attained a million dollars in a variety of assets / investments. Gente de Zona's artists would be the obvious example of potential millionaires who live in Cuba with their recent grammy award + second big hit with Marc Anthony they may have or will atleast have the potential to become millionaires despite living in Cuba. I'm sure there are a couple painters who have became wealthy as well. A couple business man who own exceptionally successful restaurants over a long period of time like Los Nardos may have surpassed the mark as well.
Of those in the top rank of incomes the vast and I mean vast majority would be making sub $2,000 / month. An elite few make more. In the 100k + year mark you can count the number of individuals between your toes and fingers. Many of them would get there due to a rare event such as selling their primary residence. A couple of restaurant owners will consistently reach that mark. Remember the state owns almost all nightlife residences. Despite this a recent proliferation of privately owned bars has been allowed. A few of these would make over 100k but often the owner is really a Cuban abroad with a front man who is well paid but by no means making 100k / year. Keep in mind as well it's not as though there are manufacturing facilities owned by private individuals outside of the odd furniture making unit with a couple of friends working at it.
Heres an article on Vietnam...There were 170 USD millionaires in 2012...Vietnam has almost 9 times the population of Cuba.
http://english.thesaigontimes.vn/24186/M...idens.html
This is a country that has opened up for a while. The reason there may be more techincally paper millionaires in Cuba is due to vastly overpriced housing despite a supply thats miles beyond demand leading to almost nothing selling especially amongst higher end homes.
The income situation in Cuba will hardly change in the coming years. Some restaurant owners will get richer. A few more people will make decent incomes. But even a 100% increase in income person it's really negligible for purchasing power when the average person is making less than $100 / month.