Bitcoin legalization has increased the flow of tourists to El Salvador

The recognition of BTC as a legal tender in El Salvador has contributed to an increase in tourist traffic to this Central American resort country. As a reminder, President Naib Buchele initiated the adoption of the relevant law back in 2021. The politician believes that if foreigners have the opportunity to pay for their vacations in El Salvador with cryptocurrency, it will attract more public attention and increase the number of tourists.

The head of state emphasized that domestic tourism has also begun to flourish in El Salvador. This is because the crime rate in the country has dropped significantly.

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. According to the minister, tourists began to spend more money on recreation and services. The average amount has increased from $ 113 to $ 200 per day.

Despite the fall of BTC, the El Salvadoran authorities have no plans to sell the accumulated cryptocurrency.