Nayib Bukele, president of El Salvador recently invited Cathie Wood, investor, founder, and CEO of Ark Invest and renowned economist Art Laffer, as a part of the high-profile meeting to discuss the investment opportunities in El Salvador.
Cathie Wood is known for her wise investment decisions and contribution to the finance and fintech industries. Her strategies and her advocacy for disruptive innovation gained her popularity.
Other present personalities include Max Keiser, an American broadcaster and filmmaker, with his wife Stacy Herbert, and Marc Seal, founder and CEO of Sortium, who focused on applying AI and Web3.
Their discussions revolved around the industry’s topics, including Bitcoin, emerging capital markets, technology and innovation, artificial intelligence, and tax policy.
Cathie Wood’s Experience in the Meeting
The renowned investor expressed her gratitude to Max Keiser and his wife, Stacy, for making her meet all the prominent industry personalities.
Thank you @maxkeiser and Stacy for introducing Art Laffer, @dpuellARK, Marc Seal, and me to President Bukele last week. Harnessing #bitcoin and #AI to turbocharge his economic and education reforms, the President could scale El Salvador's GDP 10-fold during his next 5-year term. https://t.co/7vjYwJ8mLe
— Cathie Wood (@CathieDWood) May 28, 2024
Cathie Wood was pleased to meet Bukele, as she found him incredibly knowledgeable, highly engaging, and visionary. After meeting him, she understood the reasons for his popularity, not only in El Salvador but throughout Latin America, Spain, and Portugal.
10-fold Growth in El Salvador’s GDP in 5 years
Wood expects the real GDP of El Salvador to scale 10-fold during the next five years. The two main drivers of growth expectations are:
– Nayib Bukele’s determination to develop El Salvador as a most favored country for the Bitcoin and AI communities, both of which are the era’s biggest economic and technological milestones.
– The president plans to introduce ARK Education’s curriculum on technological innovations, including robotics, energy storage, AI, blockchain, and multiomics, in the schools of El Salvador.
– The current GDP of El Salvador is relatively low, with an average monthly income of just $450 for a citizen. However, with Bukele’s understanding of economics, especially the Laffer Curve, and with the support of Art Laffer, they will be able to develop several ways to implement tax incentives and other such policies.
Thus, other industry experts are also supporting the growth expectations, looking at the current lower level of GDP, growth trajectory, growth projections, and dedication of its government.
