El Salvador Bitcoin Beach Earns Investment Equivalent of IDR 2.9 Trillion

Regarding the implementation of the investment, President Nayib Bukele stated, “El Zonte is known by many as the Bitcoin Beach. We will repair an area of ​​15 thousand square meters.”

El Salvador Bitcoin Beach Get Investment

Bukele explained that the government will build a shopping center, parking building, beach club, and a sewage treatment plant to revitalize the area.In addition to the La Libertad area, the city of Surf City, known as El Tunco, will also be renovated.

Bukele said the investment for the infrastructure totaled more than US$203 million and included the construction of bicycle lanes, a new drainage system, pedestrian paths and 14 bridges.“This year we will expand the 21 kilometers of Littoral Road into four lanes. We will do it using hydraulic asphalt which is more expensive than regular asphalt, but more durable,” explained Bukele.

The development is the second phase of the Surf City project, which aims to bring a tourism strategy movement to the region.The investments made are in line with past government plans regarding the role that Bitcoin and surfing activities play in expanding national tourism.

Finbold reports that El Salvador is a country that has successfully returned tourism revenues to pre-COVID-19 levels.Bukele said there were three factors driving the success, namely the fight against criminal groups in the country, the growth of the surfing industry and Bitcoin.

Another official in the government of El Salvador also praised Bitcoin's role as a driving force for the increase in tourism that has occurred over the past year.El Salvador's Minister of Tourism, Morena Valdez, said the use of Bitcoin as a legal currency had grown the tourism industry by 30 percent in April.