Tourism in El Salvador increases by 30% with the adoption of Bitcoin and benefit

[sifprod]

Tourism in El Salvador increases by 30% with the adoption of Bitcoin and benefits the country’s GDP!

The adoption of Bitcoin in El Salvador has boosted tourism in the country by 30%. These good results have had a significant impact on the country’s finances. In 2021, for the first time in its history, El Salvador recorded a 2-digit GDP of 10.3%.

https://www.nwscoin.com/2022/02/tourism-in-el-salvador-increases-by-30.html

[hugeblack]

The increase in relation to it does not mean anything. For example, in a country, the number of tourists per year is 10 thousand, and therefore if the number increases by 5 thousand, this means an increase of 50%, which is completely different from a country that receives 10 million tourists.

The adoption of bitcoin may push some to visit El Salvador, but if the infrastructure is not adequate, this number will not continue to increase, and it is an opportunity for companies and financial institutions associated with bitcoin, not individuals.

[stompix]

The increase in relation to it does not mean anything. For example, in a country, the number of tourists per year is 10 thousand, and therefore if the number increases by 5 thousand, this means an increase of 50%, which is completely different from a country that receives 10 million tourists.

“There are three kinds of lies: Lies, Damned Lies, and Statistics”

Salvador's GDP grew by 10.3%, but after a 7.9 decline, that's actually just 1.5% on 2019.
Salvador's number of visitors grew 30% to 1.4 million, but that's still half of the 2.64 million in 2019.

Remembered a topic about India's booming economy here, it managed a 20.1% growth in Q1 of 2021, but looking at the big picture was still below the previous levels. France's GDP grew by 7%, the largest growth in 52 years, still doesn't mean anything.

[avikz]

Remembered a topic about India's booming economy here, it managed a 20.1% growth in Q1 of 2021, but looking at the big picture was still below the previous levels. France's GDP grew by 7%, the largest growth in 52 years, still doesn't mean anything.

Spot on! That's exactly the case! In India, it was the government who tried to fool people by posting a staggering number of GDP growth after a steady decline since last 3 years. It's same here in El-Salvador it seems. Both governments have one thing in common here, trying to prove that their decisions were right no matter whatever happens!

But on a personal note, I really want El-Salvador to succeed in their ventures because it will create a very positive impression of bitcoin around the world.

[btc78]

Tourism in El Salvador increases by 30% with the adoption of Bitcoin and benefits the country’s GDP!

The adoption of Bitcoin in El Salvador has boosted tourism in the country by 30%. These good results have had a significant impact on the country’s finances. In 2021, for the first time in its history, El Salvador recorded a 2-digit GDP of 10.3%.

https://www.nwscoin.com/2022/02/tourism-in-el-salvador-increases-by-30.html

How could you be so sure that this is about the adoption of  bitcoin ? does their tourist are crypto users? supporters? or maybe Miners? I'm not sure about the main reason but i doubt that this is another bitcoin adoption related.

Maybe EL Salvador's economy is growing that is why tourist is now coming and planning to put business as their country is growing high.

[buwaytress]

Serious doubt about this. In the president's own Tweet announcing this first-ever double digit GDP growth, he's crediting exports and talking about THAT pet hospital. The minister quoted by the source actually provides no evidence to support her statement. On the contrary she says:

"And along with the jump in tourism, El Salvador has seen a steep influx in foreign currency, said added."

So they're still paying in foreign currency, not Bitcoin.

I have yet to see or hear of a tourist going there specifically because they can spend Bitcoin (surely these guys would be posting all over the forum if not Twitter etc).

Are we also now going to blame Bitcoin if energy use there increases? Next we'll be crediting "Bitcoin adoption" for lower infant mortality and other HDIs, once we run out of economic indicators.

Correlation not causation.

[stompix]

I doubt Bitcoin adaption alone give 30% increase to tourism number. It's likely there are other factor such as more people got vaccinated.

Of course, travel bans were lifted, that's why.
Look at the stats:
https://www.statista.com/statistics/816553/el-salvador-number-of-tourist-arrivals/


A growth of 30% from down 75%.

Are we also now going to blame Bitcoin if energy use there increases? Next we'll be crediting "Bitcoin adoption" for lower infant mortality and other HDIs, once we run out of economic indicators.

There won't be any energy consumption increase.
Just like these numbers that magic well of 200MW he dug overnight was just fiction, have you heard anything about it lately? Any mining statistics, any income, a pool based in Salvador for the miners there, or at least something, anything?

This guy is nuts, he did bitcoin one huge favor by making it legal tender and speeding adoption but now he's just using its userbase for his propaganda, he built a pet hospital with the profits from Bitcoin. What profits you f liar when you actually lost money based on the average price you've purchased coins for while screaming about buying the dip. Funny thing, this is the first time he didn't claim to buy the dip, probably that's why we recovered so fast, every time he went to Twitter to claim that we went further down.

[sunsilk]

Good to see that they're going back with their economy under tourism. But that growth alone can't be that much attached to their adoption with bitcoin. These are just tourists that wanting to get back to El Salvador as they have known with their tourist spots.

Of course, travel bans were lifted, that's why.

True, it's most of the countries that have lifted ban on foreign tourism while some countries have lifted the domestic tourism earlier. Well, let's just appreciate the growth and even it's not really growth but just part of the recovery that has made a huge impact because of the pandemic.

[pinggoki]

That's probably a coincidence though, what if the tourism of El Salvador is steadily growing though? Don't that mean that it just coincided with the legality of bitcoin in the country and shouldn't it have happened during the start of legalization. There must be more proof to help prove that it's because of bitcoin.