El Salvador’s tourism has grown more than 30% after adopting bitcoin as a legitimate tender based on a statement by the country’s Ministry of Tourism. "Cryptocurrencies have doubled the opportunities to do business with more partners anywhere in the world", explained the government of El-Salvador.
The Salvadoran government has outlined several economic benefits resulting from adopting bitcoin as a legitimate tender. The country’s bitcoin law went into effect in September last year, making the BTC the national currency denominated in the US dollar.
In the notice issued, it mentioned that tourism is one of the sectors that is proof that bitcoin has driven the economic development of the country. The head of the Ministry of Tourism (MITUR), Morena Valdez, commented: “The implementation of bitcoin benefits the sector. More tourists and investors have come to see how cryptocurrencies work. ”
Based on a survey that loaded a questionnaire before and after the adoption of bitcoin. The study found that more tourists and investors have come to see how cryptocurrencies work. ”
The tourism minister continued, the number of tourists was more than expected as 1.4 million were received compared to the estimated 1.1 million. He added that 60% of the number of tourists are from the United States.
On the other hand, the president of El Salvador, Nayib Bukele stated that BTC also contributes to the country's GDP growth. He explained that El Salvador achieved double-digit GDP growth for the first time in history after it adopted bitcoin laws.
Furthermore, the president of Salvador stated that "El Salvador's exports (the main driver of economic growth) increased 13% this January, compared to January 2021."
