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Mexican entrepreneurs explore investing in tourism in El Salvador

by | Dec 9, 2023

Leaders of chambers of commerce with strong participation in the tourism sector expressed their interest in learning about the investment and business opportunities in investing in tourism in El Salvador.

Within the framework of the first Business Summit of Leaders of Commerce, Services and Tourism, organized by the Confederation of National Chambers of Commerce, Services and Tourism of Mexico (CONCANACO SERVYTUR), more than ten state leaders of National Chambers of Commerce ( CANACO) expressed their interest in exploring possibilities of investing in tourism in El Salvador and deepening trade with the country.

In a press release, the Mexican Embassy in El Salvador highlighted that in the conversations that arose at the event, leaders of several states of the North American country with solid activity in the tourism sector stated that they would seek to learn about the investment and business opportunities that exist, in El Salvador.

The Bukele Administration has achieved greater security

To a considerable extent, these intentions came to light from the participation of the vice president of the republic, Félix Ulloa, who highlighted the achievements of the Nayib Bukele administration at the summit. Bukele has created a safe and conducive environment for entrepreneurship and investment, which is evident in the notable reduction of violence and the sustained growth of the economy.

“We are being reborn as one of the safest countries with the greatest tourist growth in the Western Hemisphere,” said Ulloa, alluding to more than five hundred days with zero murders and increased employment and new business opportunities.

“Mexico and El Salvador share much of our history, and now we can join forces to generate these exchanges and create these strong synergies that allow for a greater economic-commercial relationship resulting from Mexican investment in tourism in El Salvador,” he added.

This summit served as a meeting point to consolidate synergies between El Salvador and Mexico. Vice President Ulloa extended an invitation to continue this dialogue and thanked Mexico’s business leaders for their participation and support.

“The country is positioned as an outstanding development pole for those interested in investing in tourism in El Salvador, and we invite entrepreneurs to explore the country’s opportunities. The implementation of progressive legal frameworks, such as the Bitcoin Law and other cutting-edge technological legislation, reflect the Salvadoran commitment to innovation and adaptability to global markets,” he said.

For his part, the Mexican ambassador to El Salvador, Ricardo Cantú Garza, emphasized the strong relationship between the two nations.

“The improvement in the security climate has resonated greatly in the region,” Cantú commented, recognizing successful cooperation programs such as “Young People Building the Future” and “Sowing Life.”

Mexican investment in El Salvador

Recent data from the Central Reserve Bank of El Salvador (BCR) reveal that in the first half of this year, Mexico consolidated itself as the second largest investor in El Salvador, with a quarterly average of direct investment of $47.04 million, mainly in the sector of services, which represents 90.44% of Aztec Foreign Direct Investment (FDI).

According to Ángel Pérez Cortés, in charge of Economic and Commercial Affairs at the Mexican Embassy in El Salvador, more than 45 Mexican companies are currently operating in the country.

Pérez also highlighted that the embassy has received more than ten trade missions from Mexico in the last four years, the most significant number of visits for this purpose since the diplomatic headquarters was registered.

Opportunities for investing in tourism in El Salvador

El Salvador is a small but vibrant Central American nation. It presents compelling opportunities for investment from Mexican and other foreign investors in its burgeoning tourism sector. With its diverse natural landscapes, rich cultural heritage, and strategic geographical location, savvy investors can capitalize on the country’s untapped potential.

One significant opportunity for investing in tourism in El Salvador lies in developing ecotourism initiatives. El Salvador boasts a variety of ecosystems, including pristine beaches along its Pacific coastline, lush volcanic landscapes, and dense rainforests. Investing in sustainable, eco-friendly resorts, adventure tourism, and wildlife conservation projects can attract nature enthusiasts seeking authentic and environmentally conscious experiences.

Cultural tourism is another promising avenue for investment. El Salvador has a rich history dating back to pre-Columbian times, with ancient archaeological sites like Joya de Cerén, a UNESCO World Heritage site, offer glimpses into the country’s past. Investors can explore opportunities in heritage preservation, museum development, and cultural events to attract history buffs and curious travelers eager to explore the nation’s roots.

Infrastructure development is crucial for unlocking El Salvador’s tourism potential. Investing in modern transportation, including airports and roads, can facilitate smoother access to tourist destinations. Additionally, constructing high-quality hotels, resorts, and other accommodations will enhance the overall visitor experience, encouraging longer stays and increased spending.

Promoting El Salvador as a destination for adventure tourism is another area ripe for investing in Tourism in El Salvador. The country’s volcanic terrain provides opportunities for activities such as hiking, zip-lining, and hot springs exploration. Entrepreneurs can invest in adventure sports facilities, guided tours, and outdoor equipment rental services to cater to the growing demand for adrenaline-fueled experiences.

Government incentives, such as tax breaks and regulatory support for tourism-related ventures, further sweeten the investment landscape. El Salvador’s recent adoption of Bitcoin as legal tender could also attract tech-savvy investors interested in exploring innovative financial and technological solutions within the tourism sector.

In conclusion, investing in tourism in El Salvador presents a mosaic of investment opportunities for Mexican and other foreign entrepreneurs, ranging from eco-friendly ventures and cultural experiences to infrastructure development and adventure tourism. With the right strategic vision and commitment to sustainability, investors can contribute to the growth of this dynamic sector while reaping the rewards of a flourishing tourism market in Central America.

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