Morena Valdez (El Salvador’s tourism minister) has talked about the positive changes that the sector has experienced since the Covid-19 epidemic. According to Valdez’s statements, tourism has greatly benefited from the introduction of bitcoin as legal tender in the country, and from the foreigners that come to the country for bitcoin-related purposes and business.
Tourism Recovers in El Salvador
Morena Vadez, El Salvador’s Tourism Minister, released information regarding the sector’s recovery. Tourism continues to grow even though Covid-19 was overturned. It is believed that this has been due to the Bitcoin Law which established cryptocurrency in legal form. Valdez spoke to Valdez during an interview with a local television news channel. stated:
According to World Tourism Organization, there will be an 81% growth by 2022. The World Tourism Organization had predicted that 2024 would become year zero.
Three factors are responsible for the minister’s recovery. First, the government’s handling of Covid-19, which increased the trust of visitors to the country has helped, while the second is the foreign investments that result from the economic growth of the country.
Bitcoin: A Key Factor
A third aspect is bitcoin usage and the benefits it brings to the country. He had previously referred to tourism’s growth as a result of the use bitcoin, stating that the currency has contributed 30% to its sector’s growth. This statement was repeated by the minister, who shared data from February.
Valdez also shared some new data about how bitcoin implementation has affected the travel behavior of tourists to this country. Valdez declared:
Travellers who are interested in bitcoin’s implementation will have to stay longer and pay more. Before Bitcoin, daily expenses were $113-155, but now they can reach $200 per day.
The implementation of Bitcoin Law in Mexico, making bitcoin legal in that country, was controversial. However, Valdez claims it has been a positive step in the growth of the tourism industry. Valdez concluded his statement by saying that:
We have estimated that Holy Week will see more than 170,000 visitors, which is close to the flow of 2019. It is approximately $161 million foreign exchange.
How do you feel about bitcoin’s role in El Salvador’s tourism recovery? Comment below.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is intended for general purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.