El Salvador’s approval of Bitcoin as legal tender has done remarkable good for the country. Not only the gross domestic product (GDP), but also the local tourism development increased significantly.
Growth through acceptance of Bitcoin law
According to Salvadoran Tourism Minister Morena Valdez, the tourism industry in El Salvador has grown by more than 30% since the Bitcoin law was passed in September 2021.
- “We conducted a poll to monitor activity for both pre and post Bitcoin. The tourism sector grew in November and December. The sector has increased by more than 30%.” Valdez said in an interview with the local news agency on Monday El Salvador News English.
Valdez said that the adoption of Bitcoin in El Salvador has positively impacted the number of tourist visits. The number of tourists from the United States has increased. Before the Bitcoin law came into effect, the majority of visitors came from neighboring countries. Now as many as 60% of tourists come from the United States, according to