The US State Department recognized the importance of bitcoin's role in developing tourism in El Salvador

In addition, the PTS has had a “minimal negative impact on El Salvador's economy and has created the preconditions for a favorable investment climate.”

The department emphasizes that El Salvador has become the fourth fastest growing country in the world in terms of tourism, with the number of visitors increasing by 35% between 2019 and 2023. In 2023 alone, more than 3.4 million tourists visited El Salvador, which, according to rough estimates, brought almost $3 billion to the local economy.

Recall that in 2022, the Salvadoran government linked the adoption of bitcoin to the recovery of tourism to pre-pandemic levels. Morena Valdez, head of El Salvador's Ministry of Tourism (MITUR), said that after the adoption of bitcoin as a means of payment, tourist traffic to the country has grown and increased industry activity by almost 30%. El Salvador's President Nayib Bukele published an article expressing optimism about the future of his country, the first to legalize bitcoin as a means of payment.

Earlier this year, Nayib Bukele said that amid global growth in the digital asset market and the flagship cryptocurrency reaching new all-time highs, the country's investment in bitcoin had paid off, with a net return of more than 40%.