Tourism Doing Business: Investing in El Salvador

By Eproint

The United Nations World Tourism Organization (UNWTO) has released a new report aimed at attracting foreign investment to El Salvador's thriving tourism sector.

"Tourism Doing Business: Investing in El Salvador" was developed in collaboration with the Development Bank of Latin America and the Caribbean (CAF) and the Government of El Salvador. The report serves as a valuable tool to promote sustainable growth within the country's burgeoning tourism industry.

Key Highlights:

-Strong Tourism Recovery: El Salvador has demonstrated a remarkable recovery in its tourism sector, ranking fourth globally in tourist arrival growth in 2023, with a substantial 40.4% increase compared to 2019. This resurgence underscores the country's potential as an attractive investment destination. Furthermore, the first half of 2024 witnessed an impressive 37.6% growth in tourist arrivals compared to the same period in 2023.

-Increased Tourist Spending: The average daily expenditure of tourists rose from USD 107.6 in 2019 to USD 153.7 in 2023, indicating increased visitor engagement and a positive economic impact.

-Young and Productive Workforce: With 54% of its workforce under 40 years old, El Salvador boasts a dynamic labor force renowned for its productivity and commitment to service excellence.

-Significant Investment Opportunities: The report highlights a portfolio of projects worth over USD 7.5 billion solely within the tourism sector, presenting a diverse range of opportunities for investors.

"El Salvador's impressive 40.4% growth in tourist arrivals in 2023, coupled with its young and dynamic workforce, positions the country as a prime destination for sustainable tourism. The 'Tourism Doing Business: Investing in El Salvador' report is a vital resource for investors seeking to capitalize on this tourism boom, fueled by a 344% increase in foreign direct investment in 2023," said Natalia Bayona, UNWTO Executive Director.

The report was officially launched at a high-level event in San Salvador, where discussions focused on the government's strategic initiatives to enhance security, infrastructure, and investment processes.

Gustavo Santos, UNWTO Regional Director for the Américas, added that El Salvador's youthful population is driving the country's tourism development. "With a thriving sector and a young workforce dedicated to excellence, El Salvador is poised to become a global leader in sustainable and competitive tourism. With over USD 7.5 billion in investment opportunities within the tourism sector, El Salvador is solidifying its position as a model for how tourism can transform local economies," Santos concluded.