Nayib Bukele, the president of El Salvador, said the rapid recovery of tourism in the country was linked to three elements, including surfing, bitcoin and an overall reduction in crime. El Salvador was one of 15 countries that managed to bring their tourism revenues to pre-pandemic figures according to data from the World Tourism Organization.
Nayib Bukele says growth in international tourism is fueled by Bitcoin in El Salvador
Nayib Bukele, President of El Salvador and promoter of the adoption of bitcoin (BTC) as legal tender in the country, shared his thoughts on the growth of tourism revenue in the Salvadoran country. Bukele said this growth was the consequence of three key factors: bitcoin, promoting surfing and reducing crime.
In a tweet, the president declared:
Only a handful of countries have been able to restore their tourism to pre-pandemic levels. And it’s international tourism so the reasons behind it are mainly bitcoin and surf.
El Salvador was recently included in a list of countries whose tourism revenues have returned to pre-pandemic levels. According to the World Tourism Organization, El Salvador managed to increase its tourism revenue by 6% compared to 2019.
This report is consistent with what authorities have reported on the effect that the inclusion of bitcoin in the country since it was declared legal tender. In February, Morena Valdez, the country’s tourism minister, said the tourism industry had grown by 30% since that event.
Statistics further show that the crime and homicide rate in El Salvador has dropped significantly since 2020. Also, in terms of surfing, El Salvador is home to some of the highest rated waves in the world.
Domestic tourism is also growing
However, the president also made reference to the growth of domestic tourism, saying:
But domestic tourism is growing even more, mainly because of our crackdown on gangs.
Bukele’s government has been heavily criticized for the headquarters’ move to end gang-related crime, declaring a state of emergency that resulted in the detention of more than 9,000 people last April. However, Bukele says it has spurred the growth of the national tourism industry.
To back up his arguments, Bukele also linked the Google Mobility Report, a data compendium that shows changes in the number of visits that occur at certain locations. The report shows that visits to retail and leisure venues, grocery stores, pharmacies and parks have all increased over the past three months.
The government also expects new investments in bitcoin which will attract more bitcoin supporters to the country. Milena Mayorga, Ambassador of El Salvador to the United States, recently announced that Bank Of The Future, a cryptocurrency investment platform, will invest $6 billion in the country.
What do you think of Nayib Bukele’s perspective on Bitcoin’s influence on the growth of the tourism industry in El Salvador? Tell us in the comments section below.
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