Bitcoin Drastically Boosted El Salvador Tourism

English Aug 11, 2022

El Salvador's president, Nayib Bukele, stated that there has been a huge increase in tourism in the country as a result of three important factors: the adoption of Bitcoin as a legal tender, the encouragement of surfing and the reduction of crime.

“Only a handful of countries have managed to recover their tourism to pre-pandemic levels. And this is international tourism, so the reasons behind it are mostly bitcoin and surfing.” posted Nayib on his twitter account.

According to the World Tourism Organization, El Salvador has surpassed its tourism revenue by 6% compared to 2019. The country's Minister of Tourism stated that the sector has grown by 30% since the country made the correct decision to adopt Bitcoin.

Statistics further show that El Salvador's crime and homicide rate has dropped significantly since 2020. In addition, El Salvador is also establishing itself as one of the world's surfing centers.

The president also published data from the Google Mobility Report, which proves the drastic improvement in tourism numbers in the region. According to the report, visits to retail and recreation locations, grocery stores and pharmacies, and parks have grown well over the past three months. The government also expects a new injection of investment in the country, especially from companies and individuals whose finances are related to Bitcoin.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.