Santander: Significant growth in tourism in El Salvador is closely tied to the country’s acceptance of Bitcoin
Santander Bank, one of the world's largest banking groups, highlighted the significant growth of El Salvador's tourism industry in a report, which is closely related to the country's acceptance of Bitcoin. The report detailed El Salvador's process of adopting BTC as a legal currency in 2021 and how it transformed the country into a unique destination for travelers, especially cryptocurrency enthusiasts.
According to Salvadoran authorities, the country received 3.9 million tourists in 2024, an increase of 22% from the previous year. The influx of tourists was mainly driven by American tourists, many of whom were attracted by the novelty of experiencing Bitcoin transactions in their daily lives. Santander Bank's analysis linked this growth to an improvement in security conditions and pointed out that the number of homicides in the country had dropped significantly from its peak of 6,656 cases in 2015 to only 114 cases in 2024. The combination of the decrease in crime rate and curiosity about Bitcoin made El Salvador stand out in the global tourism market.
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