Tourism in El Salvador up 30% since Bitcoin adoption, minister says

In a significant development for both the tourism industry and the cryptocurrency market, El Salvador saw a surge in tourism following its adoption of Bitcoin as legal tender. This historic event took place in September 2021.
 

According to Morena Valdez, the Tourism Minister of El Salvador, the tourism industry in the country experienced a growth of more than 30% since the adoption of the Bitcoin law. This was a notable increase, especially considering that the majority of tourists were now coming from the United States, a shift from the previous majority of visitors from neighboring countries in the Central American isthmus.
 

The growth in tourism exceeded the government’s expectations, reaching 1.4 million visitors instead of the projected 1.1 million. The foreign exchange income also surpassed projections, generating more than $1,400 million instead of the projected $800,000.