
According to a U.N. 2015 study led by the Economic Commission for Latin America and the Caribbean, Cuba's services sector is responsible for the growth in the Cuban economy, representing roughly 70 percent of gross domestic product. Tourism in particular has and continues to provide significant revenue to Havana, contributing $2.5 billion, or roughly 3 percent of GDP. Furthermore, Cubans and Cuban-Americans have sent approximately $2 billion worth of remittances in the past year. The revenue is expected to grow within the coming years as well, ever since the U.S. Treasury Office of Foreign Assets Control raised the limit of remittance exports from $500 to $2,000 per quarter. U.S. citizens are now authorized to import $400 worth of Cuban goods, which will boost Cuba's domestic market sales. As a result, the Cuban economy is forecast to grow on average more than 4 percent between 2016 and 2020.