Bitcoin Beach to Receive More Than $203 Million in Infrastructure Investments in El Salvador – Emerging Markets Bitcoin News

El Zonte, a beach in El Salvador rebaptized as “Bitcoin Beach” due to its adoption of the cryptocurrency, will receive infrastructure investments as part of a strategic plan of the government of El Salvador. Surf City will receive other improvements as well as road improvements in the La Libertad area.

‘Bitcoin Beach’ to Benefit From Infrastructure Investments

Bitcoin Beach, a beach in El Zonte, El Salvador, is getting a set of infrastructure upgrades from the country’s government. This beach is famous for its use of bitcoin to establish a circular economic system in the region. This investment will help to build a set of new amenities for tourists so they can enjoy the place more.

The President Nayib Bukele spoke out about the execution of these investments.

Many people know El Zonte as Bitcoin Beach. We are planning to renovate an area measuring 15,000 square metres. There will be parking and a shop, along with a treatment plant.

This investment will be made alongside the La Libertad regional to benefit Surf City. It is the second phase in the Surf City project that aims to create strategic development opportunities for the area, to promote tourism.

A new network of roads will be built in the La Libertad area to make it easier for tourists to access its sites. Bukele explained:

We will increase the number of lanes on 21 km of our coastal highway this year. We will do this with hydraulic concrete. It is much more costly than asphalt but it lasts longer.

El Salvador’s total infrastructure spending will exceed $203 Million.

Surf and Bitcoin Are Crucial to Salvadoran Tourism

These investments are in keeping with previous statements made by the government about the impact that surfing and bitcoin had on national tourism growth. Recent reports confirmed El Salvador’s inclusion on the list.

Bukele said that this was due to three factors: surf, the fight against criminal gangs, and bitcoin. Others from El Salvador’s government have also spoken out in praise of bitcoin for facilitating the rise of El Salvadorian tourism. Minister of Tourism in El Salvador Morena Valdez stated that bitcoin adoption as legal currency had led to a 30% increase in tourism.

This story contains tags
Bitcoin, Bitcoin Beach, El Salvador, el tunco, el zonte, gangs, infrastructure, Investments, Nayib Bukele, surf, surf city

How do you feel about Bitcoin Beach investments by the Salvadoran government? Comment below.

Sergio Goschenko

Sergio, a Venezuela-based cryptocurrency journalist. Sergio is a cryptocurrency journalist based in Venezuela. He says he was late to the party, having entered the cryptosphere during the December 2017 price increase. He is a Venezuelan computer engineer with a background in social engineering and has been impacted by cryptocurrency’s boom on a personal level.

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