A new report by Santander US Capital Markets LLC highlights how El Salvador's Bitcoin adoption has led to a surge in tourism.
Bitcoin as a Tourism Catalyst
The report, released on January 10, explores the interaction between El Salvador's cryptocurrency policies and its growing appeal to tourists. According to the data, the number of tourists in 2024 is expected to reach 3.9 million, up 22% from the previous year.
Bitcoin's Impact on Safety
The report also links the tourism boom to a significant drop in crime rates in El Salvador, with only 114 homicides in 2024 compared to 6,656 in 2015.
Economy and Tourism
The growth of tourism significantly impacts El Salvador's economy. In the first half of 2024, tourism accounts for 11% of the country's GDP, surpassing regional rivals like Costa Rica, where tourism contributes 5%.
Bitcoin adoption has captured global attention to El Salvador, aided by improvements in safety and economic growth.
