El Salvador is getting a huge surge in local tourism development. After the Bitcoin adoption, it surged by 30%.
El Salvador is the first and only single country in the world, where people can use Bitcoin-based payment easily without any restrictions. On 7 September the country adopted bitcoin as a currency. After the adoption of Bitcoin, the country saw huge numbers of development works.
On 22 February, Morena Valdez, El Salvador’s Tourism Minister, announced the achievement of the country in terms of increment in local tourism.
Morena noticed that the country’s local tourism surged by around 30%, since the adoption of Bitcoin.
“We did a poll to check the activity according to the before and after of Bitcoin. The tourism sector increased in November and December. This increased by more than 30%,” she added
Morena also noted that increasing tourist visits in El Salvador surged because of Bitcoin adoption and the majority of the tourists are coming from the United States.
Before the adoption of the Bitcoin law, the majority of the tourists were coming from Central American isthmus. Now 60% of tourists are from the US.
The minister also said that the El Salvador government was expecting to hit 1.1 million tourists but such a rapid surge in tourism because of Bitcoin adoption, the number of tourists reached 1.4 million.
Earlier this on 20 February, Nayib Bukele, President of El Salvador, notified his followers on Twitter that the country achieved a 10.3% increase in the GDP last year. However, the main economic growth in the country was seen in January of this year, which was 13%.
It seems that the country is getting better support and bonding from other neighboring countries to increase trade because of the Bitcoin law or maybe other better decisions, which welcome many types of Innovations in the country.
In recent months, the El Salvador president had a meeting with Turkey’s president to increase trade between both countries and also to use the space tech resources of Turkey.