A surge in tourism thanks to Bitcoin

Nayib Bukele, the president of El Salvador, recently spoke of a surge in tourists visiting the country despite the Bear Market.

El Salvador entered the rating of the World Tourism Organization. The Central American country made the list along with 14 other countries.

Nayib Bukele and tourism

Bukele says this is mainly due to the acceptance of Bitcoin (BTC) as legal tender, the popularization of sports such as surfing.

“Only a few countries have managed to get their tourism back to pre-pandemic levels… #Bitcoin and surfing are the main reasons for this. But domestic tourism is growing even more, mainly thanks to our fight against gangs.”

The country’s Bitcoin Beach has made headlines around the world and continues to attract the attention of the international community.

In April, Tourism Minister Morena Valdes gave an interview to the Salvadoran TV channel Channel 21. There she explained that tourism in the country has increased by 30% thanks to the introduction of Bitcoin.

“El Salvador has become a good place to visit, invest and live. With the use of Bitcoin, tourism has increased by 30%. Tourists interested in adopting Bitcoin stay longer and spend more. Before Bitcoin used to spend between $113 and $150 per day, it is now reaching $200 per day.”


UNTWO report

The report Nayib Bukele refers to is a UNWTO ranking of the growth in tourism receipts between January and May of this year. Only three properties in the Americas appeared: Saint Lucia with 21%, El Salvador with 6% and Mexico with 3%.

Other destinations featured in the UNWTO ranking include Croatia, Turkey, Sudan, Pakistan, Macedonia, Romania and Serbia. The agency predicts that the number of international arrivals to these countries will reach pre-pandemic levels this year.

The UNWTO stresses that countries such as El Salvador, which are experiencing an increase in tourism, will face challenges. These include a lack of staff in the tourism industry, heavy airport congestion, flight delays and cancellations, which can also affect tourism figures.

Nayib Bukele and Google

El Salvador’s president also presented updated Google mobility data (updated as of August 3) showing that the country’s tourism activity is “greater than expected.”

In late July, El Salvador’s Finance Minister Alejandro Zelaya said the country’s commitment to Bitcoin (BTC) was working. It has expanded financial inclusion services to all corners of the country, benefiting the public, whether banked or not. And it attracted more tourists.

Although the adoption of Bitcoin has been difficult for some, Nayib Bukele is standing his ground.

“For some, it’s something new and something they don’t fully understand, but it’s a phenomenon that exists, is growing, and will continue to exist for years to come. New technology showed how people were afraid of things like websites.’

Nayib Bukele made Bitcoin legal tender in El Salvador, the first country in the world to do so. Even about this act, the small country was in the news throughout 2021 and now, in 2022. Could this move be genius?

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