El Salvador to Spend $ 200 Million on Bitcoin Beach

The government of El Salvador, a well-known cryptocurrency-friendly country, has allocated $ 203 million to improve the infrastructure near the bitcoin beach in the La Libertad region.

According to El Salvador’s President Nayib Buchele, a shopping center, parking lot, beach club, and sewage treatment plant will be built in La Libertad region — the bitcoin beach will cover about 15,000 square meters. In this way, the country seeks to maintain the interest of tourists, as the recognition of CTS as a legal tender in El Salvador has contributed to an increase in the flow of foreigners to the country.

Recently, the Minister of Tourism Morena Valdez stated that after the legalization of BTC, the tourist flow to the country increased by about 30%. Bitcoin fans are coming to El Salvador in large numbers, and some of them even stay there to live. According to Valdez, tourists began to spend more money on recreation and services. On average, the amount spent by foreigners in El Salvador has increased from $ 113 to $ 200 per day.

In addition to the bitcoin beach, El Salvador is working on the creation of a cryptocurrency city dedicated to bitcoin. The bitcoin city project was presented back in May of this year. It was then that it became known that Bitcoin city would be built in the shape of a huge hexagon, with parks and the necessary infrastructure around it.