El Salvador Tourism Increased 30% After Bitcoin Adoption

A Bitcoin token
Credit: image by Kanchanara via Unsplash

A Bitcoin token
Credit: image by Kanchanara via Unsplash

El Salvador's tourism has increased by a significant 30% after the nation bolstered its efforts to legalise Bitcoin as legal tender, according to Morena Valdez, the head of the ministry of tourism in El Salvador.

Valdez further reiterated how the El Salvadoran government's efforts to strengthen Bitcoin-related activities in the nation had finally fructified in all the economic sectors in the nation

The country's decision to legalise Bitcoin has added immense value to the tourism sector of the country which has recently reported improved statistics in terms of increased tourist activity in the region.

El Salvador's Tourism Reports 30% Increase After Its Decision To Adopt Bitcoin Legally.

In an interview with the local news outlet El Salvador News English, Valdez further claimed that the tourism of the country has spiked by 30% as more tourists and crypto enthusiasts are visiting the country in hopes to assess how cryptocurrency infrastructure works in reality. Valdez said:

The implementation of Bitcoin benefitted the sector. More tourists have come to see how cryptocurrency works. We did a poll to check the activity, according to the before and after of Bitcoin. The tourism sector increased in November and December more than 30 percent.

Statistically speaking, Valdez stated that the majority of the tourists, nearly 60% are coming from the United States, while others are coming from neighbouring South American nations. He said:

A total of 1.4 million visitors flocked to the South American country, exceeding expectations of 1.1 million.

Valdez further stated that the country was anticipating roughly $800,000 in foreign exchange, alongside a significant amount of foreign currency.

This comes as El Salvador's GDP has also shown positive change, reporting increased statistics that grew a significant 10.3% in 2021. The President of El Salvador, Nayib Bukele, took to Twitter to announce the news of their improved GDP indicating better economic prospects.

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