The COVID crisis has affected many sectors of the economy. In particular, tourism-related income has fallen sharply with the health restrictions that have been put in place. Since these restrictions were removed, tourism is trying to regain color. Some countries like El Salvador have already returned to pre-crisis levels… What if bitcoin had something to do with it?
El Salvador’s tourism sector will recover to pre-COVID levels
The tourism sector is recovering in El Salvador. A few months ago, the government was happy to see a 30% increase in tourism. So, more than 11.4 million visitors he traveled to the country this winter. The government was delighted, with 1.1 million visitors.
According to data from the World Tourism Organization, El Salvador is among 15 countries that are seeing their tourism sector return to pre-COVID levels. According to this same data, income generated through tourism in El Salvador an increase of 6% compared to those of 2019. The President of El Salvador, the whimsical was enough Nayib Bukele, he welcomes on Twitter ! For him, these good results are due to two main reasons: surfing and… Bitcoin !
“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 surfing. » Nayib Bukele, President of El Salvador
To be precise, there has also been an increase in “domestic” tourism in the country. In another message, Nayib Bukele attributed this success to a third reason, the reduction in crime in the country. It must be said that the government has implemented very coercive measures (for some people that are highly criticized in terms of the law) against gangs.
“But domestic tourism has increased even more, mainly because of our crackdown on gangs. » Nayib Bukele, President of El Salvador
Bitcoin in El Salvador and Tourism
Tourism is therefore progressing in El Salvador. And this benefits the entire economy of the country. As explained above, for Nayib Bukele, this situation is particularly the result of the introduction of Bitcoin in the country. As a reminder, from September 2021, Bitcoin is now a legal tender in El Salvador same as the US dollar.
It is difficult to know exactly the impact of Bitcoin on the country’s economy. However, it is true that the use of Bitcoin in the country has not gone unnoticed on the international scene. Therefore, many curious people and investors traveled to the country to see it Different uses of BTC in El Salvador. It is a bit as if the country were an open air laboratory.
Some companies also showed their curiosity and said they were ready invest in the country. For example, the firm Bank of the Future said he wanted to invest in the country to the tune of 6 billion dollars. The announcement came in a manner Milena Mayorga, Ambassador of El Salvador to the United States on Twitter. For information Bank Of The Future is a global platform registered with the Cayman Islands Monetary Authority and specialized in investing in FinTech & Crypto companies.
” they [Bank Of The Future] already opening operations, since January they have very high meetings and now they are already in the hiring process. By the end of the year, we hope that they will already have the operating licenses and that they will bring a capital of 6,000 million dollars. Milena Mayorga, Ambassador of El Salvador to the United States
