Nayib Bukele, the President of El Salvador, explained that the rapid recovery of tourism in the country has to do with three elements, including surfing, bitcoin and the overall reduction in crime. El Salvador was one of 15 countries that have managed to bring their tourism revenues back to pre-pandemic levels, according to the World Tourism Organization.
Nayib Bukele states that international tourism growth in El Salvador is driven by Bitcoin
Nayib Bukele, the 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 Salvadorian country. Bukele explained that this growth is the result of three key factors: Bitcoin, the promotion of browsing and the reduction in crime.
In a tweet, the President specified:
Only a handful of countries have been able to bring their tourism back to pre-pandemic levels. And this is international tourism, so the reasons for that are mostly bitcoin and surf.
El Salvador was recently added to 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 impact of Bitcoin’s inclusion 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 the event.
Statistics further show that the crime and homicide rate in El Salvador has decreased significantly since 2020. Additionally, in terms of surfing, El Salvador is home to some of the top rated waves in the world.
National tourism is also growing
However, the President also referred to the growth of national tourism, stating:
But domestic tourism is growing even more, largely because of our crackdown on gangs.
Bukele’s government has been heavily criticized for the measures it has taken to stop gang violence and declared a state of emergency that led to more than 9,000 people being arrested last April. However, Bukele claims that this has fueled the growth of the national tourism industry.
To back up his arguments, Bukele also linked to the Google Mobility Report, a compendium of data showing changes in the number of visits to specific locations. The report shows that visits to retail and leisure facilities, grocery stores and pharmacies, and parks have increased over the past three months.
The government also expects new bitcoin investments that will bring more bitcoin supporters to the country. Milena Mayorga, Ambassador of El Salvador to the US, recently announced that cryptocurrency investment platform Bank Of The Future will invest $6 billion in the country.
What do you think of Nayib Bukele’s take on Bitcoin’s impact on the growth of El Salvador’s tourism industry? Tell us in the comment section below.
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