Santander Bank: Affected by the adoption of Bitcoin, the number of foreign tourists received in El Salvador in 2024 increased by 22% year-on-year
According to News.bitcoin, Santander, one of the world's largest banking groups, highlighted in a report the significant growth of El Salvador's tourism industry, which is closely related to the country's acceptance of Bitcoin. The report provides a detailed account of El Salvador's adoption of BTC as its legal tender in 2021, and how it has 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 is mainly driven by American tourists, many of whom are attracted by the novelty of experiencing Bitcoin transactions in their daily lives. Santander Bank's analysis links this growth to improvements in security conditions and points out that the country's annual homicide rate has dropped to only 114 in 2024, a significant decrease from the peak of 6656 in 2015. The decline in crime rates combined with curiosity about Bitcoin has made El Salvador stand out in the global tourism market.