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Bitcoin is the leading and first cryptocurrency project established in 2009. Since establishment the potential digital currency has seen significant upward movement, although the asset is truly volatile. El Salvador is the first nation that legalized the cryptocurrency and holds some of the assets in its national treasury. Recently, a report has revealed that amid the legalization of the flagship cryptocurrency in El Salvador, tourism in the nation has surged by more than 30%.
El Salvador’s Bitcoin adoption is paying off
Salvadoran Minister of Tourism has recently revealed about the increasing rate of Tourism in the nation amid Bitcoin adoption. The Minister noted that in the last quarter of the previous year, there was an increment of 30% which is more than expected. It seems that now El Salvador is on the map of tourists who go there from neighboring nations.
Moreover, the report highlighted that the tourism sector is one of the significant items in the nation’s growth. Notably, President Nayib Bukele has kept the sector as the second economic boost for the year.
Following the spike in Tourist attraction, it seems that the decision of embracing BTC has paid off. According to Morena Valdez, the Minister of Tourism Tourism sector’s bounceback following the global COVID-19 pandemic has exceeded expectations. Where the government was expecting 1.1 million tourists, they witnessed more than 1.4 million visitors.
Salvadoran government is pleased
The rise of tourists by 30% is significant for nations like El Salvador. Following the scenario, it seems that the metrics would have pleased the Salvadorans who were criticizing the measures of Nayib Bukele, Salvadoran President.
In recent months, many have protested although no such news has been reported. However, now it seems that there must be more benefits that are yet to be revealed.
BTC moves benefits a nation
Bukele decided to introduce BTC so strongly into the economy claiming it would bring fostering benefits to the economy. Following such plans of the Salvadoran president, an essential debate sparked across the world.
Still Bukele legalized the fl;agship cryptocurrency which has begun to show its potential. Besides, the introduction of Chivo wallet had also shown the craze among the residents, as within a month it registered more than a couple of million users.
However, those outside the nation are still thinking otherwise.
