Bitcoin Beach will receive more than $203 million in infrastructure investment in El Salvador

Most Read

El Zonte, a beach in El Salvador renamed “Bitcoin Beach” due to its adoption of cryptocurrency, will receive infrastructure investments as part of a strategic plan for the Government of El Salvador. Surf City, another beach site in the La Libertad area, will also receive improvements soon and other upgrades.

To benefit from infrastructure investments in Bitcoin Beach

Bitcoin Beach, a beach in El Zonte, El Salvador, gets a range of infrastructure upgrades from the country’s government. The beach is creative because of its adoption of bitcoin to build the economy cycle in the region. These investments will be directed towards building a new range of facilities for tourists to enjoy the site better.

With regard to the implementation of these investments, President Nayib Bukele said:

El Zonte for many is known as Bitcoin Beach; We will repair an area of 15,000 square meters, where there will be a shopping mall, parking, beach club and processing station to activate the area.

Surf City, a beach also known as El Tunco, will benefit from these investments that will extend alongside the La Libertad area. This is part of the second phase of the Surf City project, which aims to bring strategic developments to the region to help tourism thrive.

The La Libertad area will also receive a new range of routes to give tourists better access to locations. Bukele explained:

This year we will expand 21 kilometers of coastal highway to four lanes. We will also do this with hydraulic concrete, which is more expensive than asphalt, but lasts longer.

In total, the Government of El Salvador will spend more than $203 million on infrastructure, including a new drainage system, bridges and bike roads, among other facilities.

Bitcoin and surfing are crucial for Salvadoran tourism

This set of investments is in line with what the government has previously announced about the impact of surfing and bitcoin on the growth of national tourism. A recent report confirmed that El Salvador was on the list of countries that had already regained their tourism incomes to pre-epidemic levels.

Bukele attributed it to three elements: fighting against gangs in the country, surfing, and bitcoin. Other officials in El Salvador also hailed bitcoin as a catalyst for tourism growth this year. In April, Morena Valdez, El Salvador’s minister of tourism, stated that the adoption of bitcoin as a legal tender helped the sector grow by 30%.


- Advertisement -


Latest Crypto Fear & Greed Index