Tourism Minister of El Salvador Reiterates Effect Bitcoin Has Had on the Sector

Morena Valdez, the tourism minister of El Salvador, has brought out information about the recovery of the tourism sector in the country. Even after Covid-19, tourism has managed to keep growing, ostensibly with the help of the Bitcoin Law that established the cryptocurrency as legal tender in the country. During an interview on a local TV news channel, Valdez stated:

"According to the World Tourism Organization, we have an 81% recovery by 2022. They had calculated that 2024 would be year zero."

The minister attributes this recovery to three factors. The first has to do with the handling of the Covid-19 pandemic in the country, which has boosted the confidence of tourists that come to the country, and the second has to do with the investments that derive from the interest the country and its economic movements have awakened in foreign markets.

But Valdez did share new information about how the implementation of bitcoin has changed the behavior patterns of tourists coming to the country. Valdez declared:

"Tourists interested in the implementation of bitcoin have a longer stay and a larger expense. Before bitcoin there was a daily expense of $113 to $150, now it is up to $200 a day."