Bitcoin spurs El Salvador’s Explosive Tourism Growth

El Salvador has seen its Tourism sector soar more than 80% in the first half of 2022.

Government figures reveal that there were 1.1 million visitors to El Salvador this year.

That’s despite the price of Bitcoin (BTC) sinking almost 50% since Jan. 1.

Data from The World Travel Organization reveal that the Central American country is internationally recognized as “one of the countries with the best rate of tourism recovery in the region as of January 2022.”

In a radio interview, the general director of Strategic Projects of the Ministry of Tourism of El Salvador, Alex Bonilla, explained that over the summer holiday period, the country can expect “57,500 international visitors, which will generate $60 million in foreign exchange during this vacation.”

Since El Salvador adopted Bitcoin as legal tender, thousands of Bitcoiners have made the trip.

Big-name Bitcoiners such as Jeff Booth, entrepreneur and author of Price of Tomorrow, Obi Nwosu, CEO of Fedimint, the decentralized community custody solution, and Samson Mow, CEO of Jan3, have all taken pilgrimages to El Salvador.

Max Keiser and Stacey Herbert, Bitcoin OGs, chose to take up residency in El Salvador and now base their podcasting and broadcasting operations on El Salvador.

As part of the Bitcoin Bill, residency in El Salvador could effectively be bought for 3 BTC, or $66,000 at the time of writing, as part of an investment into the country.