GAESA

For insect genus, see Dichomeris.

The Grupo de Administración Empresarial S.A. or GAESA is Cuba's largest, military-controlled business megaconglomerate.[1] Among other interests, it has exclusive control over Cuba's hotel industry, from which it has historically acquired billions of US and Canadian dollars in income.[2] It also owns Cuba's largest bank.[3] According to The Miami Herald, GAESA, acting as a proxy for the Cuban military, has around $18 billion in assets as of August 2025.[4] This was challenged by experts, with researcher Emily Morris telling The Belly of the Beast Cuba that the purported leaked documents show that GAESA has less than $1 billion in assets.[5]

References

  1. ^ Torres, Nora Gamez (6 August 2025). "Five takeaways from a Herald investigation of Cuban military's secret dollar cache". Miami, Florida: Miami Herald.
  2. ^ Dyer, Evan (2 August 2021). "How Canadian tourism sustains Cuba's army and one-party state". CBC News.
  3. ^ "Cuba's broken economy leaves it at Donald Trump's mercy". The Economist. ISSN 0013-0613. Retrieved 2026-03-20.
  4. ^ Gamez Torres, Nora (6 August 2025). "Where is Cuba's money? Secret records show the military has massive cash hoard". The Miami Herald. Retrieved 27 February 2026.{{cite news}}: CS1 maint: url-status (link)
  5. ^ "Is Cuba's Military Really Holding Billions Overseas? An interview with economist Emily Morris". Belly of the Beast. Retrieved 2026-02-27.
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