CUBA'S TOP CIGARMAKER BREAKS RECORD WITH SALES OF $827 MILLION IN 2024
Habanos, Cuba's top cigar maker, has reported record sales of $827 million in 2024, driven by high-end demand from growing markets in Asia. The company's revenue jumped 16% over the previous year as it capitalized on its luxury brand reputation and quality tobacco products. Soaring sales came despite challenges posed by natural disasters such as Hurricane Rafael and Hurricane Ian.
- Cuba's success in reaping the rewards of its luxurious cigar industry highlights the resilience of traditional export sectors underpinning struggling economies.
- How will continued growth in global demand for premium cigars from emerging markets impact Cuba's diplomatic relations with countries like China, which has become a major hub for Habanos sales?