El Salvador’s decision to make bitcoin legal tender has paid off as far as tourism is concerned. The law has increased tourism by 30%, according to local media reports on Feb 21. The report said that the tourism sector is one of the most important items for the country’s economic growth — with President Nayib Bukele placing it as the second economic boost for 2022.
It appears that making bitcoin legal tender has put El Salvador on the map of tourists, with foreign tourists outside of the continent increasing. Previously, many of the tourists would come from neighboring countries in Central America. Tourists from the United States make up 60% of the figure.
Minister of Tourism Morena Valdez said that the sector’s bounceback following the pandemic has exceeded expectations. The government aimed for 1.1 million visitors, hitting a target of 1.4 million instead. Valdez said,
“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%.”