El Salvador’s president, Nayib Bukele, who has advocated for the adoption of bitcoin (BTC) as legal tender in the country, recently shared his thoughts on the country’s tourism revenue growth. According to Bukele, this growth is the result of three key factors: bitcoin, surf promotion, and crime reduction.
The president stated in a tweet: “Only a handful of countries have been able to recover its tourism to pre-pandemic levels. And that’s international tourism, so the reasons behind it are mostly bitcoin and surf.”
El Salvador was recently added to a list of countries whose tourism revenue has recovered to pre-pandemic levels. According to the World Tourism Organization, El Salvador increased its tourism revenue by 6% in 2019 compared to 2018.
This report is consistent with what authorities have been saying about the impact of bitcoin’s inclusion in the country since it was declared legal tender. Morena Valdez, the country’s tourism minister, stated in February that the tourism industry had increased by 30% since this event.
Furthermore, statistics show that El Salvador’s crime and homicide rates have decreased significantly since 2020. Furthermore, in terms of surfing, El Salvador has some of the best waves in the world.
Nevertheless, the president also mentioned the rise in national tourism, saying: “But internal tourism is growing even more, mainly because of our crackdown on gangs.”
Bukele’s government was heavily criticized for declaring a state of emergency to combat gang-related crime, which resulted in the detention of over 9,000 people last April. Bukele, on the other hand, claims that this has accelerated the growth of the national tourism industry.
To bolster his case, Bukele included a link to the Google Mobility Report, a collection of data that shows the change in the number of visits to specific locations. According to the report, visits to retail and recreation establishments, grocery stores and pharmacies, and parks have all increased in the last three months.
The government also anticipates new bitcoin investments, which will attract more bitcoin supporters to the country. Milena Mayorga, El Salvador’s ambassador to the United States, recently announced that Bank Of The Future, a cryptocurrency investment platform, would invest $6 billion in the country.