Friday, December 9, 2022
HomeBTCEl Salvador President Nayib Bukele give credit to Bitcoin for tourism recovery

El Salvador President Nayib Bukele give credit to Bitcoin for tourism recovery

El Salvador was recently listed among the nations whose tourist arrivals have reached pre-pandemic levels. The World Tourism Organization reports that El Salvador was able to increase its tourism revenue by 6% in comparison to 2019.

The president of El Salvador, Nayib Bukele expressed his views on the country’s increasing tourism-related revenue and presented his arguments in favour of making bitcoin (BTC) a legal tender.

According to President Nayib Bukele, El Salvador’s tourism has returned to its pre-pandemic levels, with the majority of this growth being associated with Bitcoin. He claims that many foreigners visited the country to learn about the economy’s use of digital currency and its reality.

El Salvador, one of Latin America’s smallest nations in terms of land area, legalised Bitcoin in September 2021. After almost a year of ups and downs, the nation continues to demonstrate that choosing the Bitcoin route was the best course of action.

The WTO report is in line with what government officials have been saying about the effects of allowing bitcoin in the nation ever since it was made legal tender. The nation’s tourism minister, Morena Valdes, claimed in February that the industry had increased by 30% since the occasion.

The government anticipates new bitcoin investments will increase the number of bitcoin supporters in the nation. The recent announcement by Bank of the Future, a crypto investment platform, that it would be investing $6 billion in El Salvador was made by Milena Mayorga, El Salvador’s ambassador to the US.

Read more at Cryptoshrypto:

Bitcoin bring financial services to unbanked population: El Salvador’s Finance Minister

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