Bitcoin Beach in El Salvador will get almost $200 million in infrastructural development
El Zonte, a beach in El Salvador called “Bitcoin Beach” due to its adoption of the money, will get infrastructural enhancements as part of a government-implemented strategic plan.
As a result of the beach’s acceptance of Bitcoin (BTC) to build a circular economy in the area, the beach has attained iconic status. These expenses will be used to create brand-new facilities to improve the holiday experience of the destination’s visitors.
President Nayib Bukele issued the following statement on August 26 about the implementation of these investments:
“El Zonte is often referred to as Bitcoin Beach; we want to revive the region by constructing a retail mall, parking lot, beach club, and sewage treatment plant on an area of 15,000 square meters.”
These upgrades will also benefit the Surf City beach, popularly known as El Tunco, in addition to the La Libertad district. Bukele said that the investment exceeds $203 million and includes 14 bridges, cycling routes, a new drainage system, and pedestrian crossings.
This year, 21 kilometres of the Littoral Road will be expanded to four lanes. In addition, we will use hydraulic concrete, which is more costly than asphalt but lasts far longer,” he said.
The role of Bitcoin in tourism
This is part of the second phase of the Surf City project, which aims to improve the region’s tourism via strategic efforts. These expenditures are consistent with what the government has said in the past about the impact that Bitcoin and surf have had on the growth of the national tourism industry.
A recent survey verified that El Salvador was one of the countries on the list of nations whose tourist revenues had rebounded to pre-pandemic levels. Bukele attributed this to three factors: the continuing struggle against gangs in the country, the expansion of the surf business, and Bitcoin.
Also Read: XRP Validators Vote Commences On NFT-Related Amendment