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Mr. Sebastian Acevedo Mejia, Mr. Trevor Serge Coleridge Alleyne, and Rafael Romeu

-linear effect to distance, given that the coefficient for Europe, while negative, is not statistically significant. Both the US-Cuba restrictions and the tightening of those restrictions are negative and significant, confirming that the US travel policy towards Cuba has had an important negative impact on the tourism sector in the island. Table 1. Gravity Estimations Variables (1) In TA (2) In TA (3) In TA Distance −1.48*** −1.55*** −1.56*** US-Cuba restrictions −3.41*** −3.61*** −3.59*** Tightening of restrictions