Bitcoin and surfing, the magic formula for the recovery of El Salvador

Sea, Satoshi & Sun – Despite pressure from IMF and the speculative attacks on its government bondsthe salvador knew how to hold on, and not give up on maintaining Bitcoin (BTC) as legal tender. And Bitcoin makes him feel good. Indeed, El Salvador is one of the few countries whose tourism has already recovered from the Covid travel ban crisis, thanks in large part to the king of cryptos, according to the president Nayib Bukele.

A sustained increase in tourism in El Salvador since the Ley Bitcoin »

Already at the beginning of 2022, the Salvadoran Ministry of Tourism announced that the adoption of Bitcoin as legal tender had started to improve visits in the Central American country.

This time it’s theworld tourism organization (WTO) who says it: El Salvador is one of the countries that have better delivered of the Covid restrictions crisis, at least in terms of tourism.

It’s the Salvadoran president himself, Nayib Bukelewho announces the good news on his account Official Twitter. Not only has El Salvador returned to its pre-Covid tourist attendance, but is even experiencing a +6% growth compared to 2019.

Tourism is making a strong comeback in El Salvador thanks to Bitcoin.
The top 15 countries in the world to have regained (and surpassed) their pre-Covid tourism revenues – Source:

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In addition to Bitcoin and surfing, improved security boosts domestic tourism

President Bukele specifies in his tweet that the bitcoin payments and the surf beaches are a big part of that success. If these two weighty arguments explain, according to him, tourism internationalleisure travel interiors to the small country would also be explained by improving securityvis-à-vis criminal gangs:

“Only a handful of countries have been able to return their tourism to pre-Covid levels. For international tourism, the reasons behind it are mainly bitcoin and surfing. But domestic tourism is increasing even more, mainly due to our crackdown on gangs. »

President of El Salvador hails Bitcoin for helping in tourism.
Twitter account @nayibbukele

El Salvador obviously does not regret its choice to adopt Bitcoin. As for speculators’ attacks on its government bonds: even the big bank Morgan Stanley recognize that they are currently undervalued. Successful bet for Bitcoin and El Salvador?

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