In 2024, Salvadoran and multinational companies maintained their investments in El Salvador. Some were announced to begin in 2025, while others completed their projects for immediate implementation. Salvadoran and multinational companies maintained their investments in El Salvador in 2024, with high expectations for better growth in the coming years. These investments played a crucial role in shaping the Salvadoran economy in 2024, marking a year of achievements and challenges.
Although the country remained the least attractive for foreign investment compared to its regional peers, the announced and completed projects demonstrated the determination of major corporations to continue driving the Salvadoran economy in 2024 and creating jobs. According to data from the Central Reserve Bank, foreign direct investment (FDI) inflows in the third quarter of 2024 were positive, amounting to $225.37 million. However, the cumulative total for the three quarters showed that 2024 was unfavorable for investments. Between January and September 2023, the country received $532.35 million, but during the same period in 2024, this figure dropped to a cumulative $387.44 million.
This decline is primarily due to a $33.6 million outflow of funds reported by the Central Reserve Bank in the second quarter of 2024. Economist Otto Rodríguez noted that although the country has improved its international image, investment has yet to arrive in full force because urgent measures against corruption and clear signals in favor of transparency are still needed. Nonetheless, the projects completed or announced this year underscore ongoing efforts to strengthen the Salvadoran economy in 2024 and beyond.
Below is a list of at least eight investments revealed this year. Some were announced to start in 2025, such as the new real estate developer Sforma, which has already laid the foundation stone for an apartment building involving a $45 million investment. Others were inaugurated this year, although they began in previous years, such as Agrisal, which opened Plaza Mundo Usulután, a new shopping mall in the eastern part of the country.
In 2025, business owners expressed enthusiasm for investing, motivated by more favorable laws and the hope of an economic recovery in the United States. This could also benefit the Salvadoran economy in 2024 as various sectors laid the groundwork for future growth.
New Shopping Mall in the East
Agrisal opened Plaza Mundo in the city of Usulután, a new shopping mall aimed at boosting the economy in the eastern region. According to Eduardo Quiñónez, president of Agrisal, the mall’s construction, which took just over a year, generated between 1,500 and 2,000 jobs. Now that it is operational, it is expected to create another 1,000 jobs for residents. The project represented an investment of $52 million, funded through an investment fund with participation from over 30 investors. In October, Agrisal announced a $30 million investment to construct an apartment complex in Soyapango. This project includes 288 two- and three-bedroom apartments distributed across three nine-story towers and a fourth building for parking spaces.
Increased Production with a Major Investment
Grupo Bimbo announced the construction of a new production plant to strengthen its presence in the Salvadoran market while consolidating its trade ties between Mexico and El Salvador. The plant involves a $200 million investment, with the first phase set to begin operations in the first quarter of 2025. The construction phase is expected to generate 150 jobs, while the fully operational plant is projected to create approximately 650 direct jobs. This project exemplifies how multinational investments have directly contributed to enhancing the Salvadoran economy in 2024 and setting the stage for sustained growth.
Fourth Location in the Country
The U.S.-based company PriceSmart opened its fourth shopping center in Santa Ana with a $20 million investment. This new membership-based shopping center joins 54 other facilities operated by the company in 13 countries worldwide. The investment also led to the hiring of 110 people. Officials from the U.S. Embassy in El Salvador attended the opening of the new location.
Expanded Production Capacity
The Salvadoran mattress company Indufoam invested $5 million to expand its production facilities, aiming to boost production capacity and increase exports. The plant spans 90,000 square meters, but the investment adds another 5,000 square meters. The company plans to invest an additional $2 million next year to expand its distribution center further. Guatemala, Nicaragua, Morocco, and South Africa are key markets for the company. These expansions highlight private-sector contributions to the Salvadoran economy in 2024 and its diversification efforts.
Luxury Hotel Chain Arrives in El Salvador
The luxury chain JW Marriott will open its first hotel in El Salvador through Real Hotel & Resorts, which already operates two similar hotels in Costa Rica and Colombia. The new hotel will be located in the Multiplaza shopping center, with construction set to begin in the second quarter of 2025. Although the investment amount has not yet been disclosed, the infrastructure is expected to enhance commerce and tourism for business and leisure. The hotel, slated for completion in 2028, will feature 186 rooms and a 16-story building designed by the prestigious architecture firm CallisonRTKL.
New Distribution Center
The multinational food and beverage company Nestlé invested $10 million in a new distribution center in Nejapa (San Salvador), expanding its storage capacity and streamlining its logistics operations. This facility is the fourth-largest plant in the region. It will handle over 17,000 tons of products annually, including well-known brands such as Maggi, Nido, La Lechera, Klim, Nescafé, and Nespresso.
Real Estate Offerings in Greater San Salvador
The new developer Sforma launched its real estate investments with the groundbreaking of the Origin apartment building, which will become the tallest building in Antiguo Cuscatlán, in the La Libertad Este district, one of the most valuable areas in Greater San Salvador. The project includes 105 apartments across 24 floors, targeting the upper-middle to high-income segment. The developer has sold 80% of the apartments, with an initial investment of $45 million.
Infrastructure for Services
Telus International El Salvador inaugurated its fourth operations center in El Salvador, capable of accommodating over 3,400 workspaces in response to the growing demand for talent and the company’s regional expansion. The new tower, spanning 19,350 square meters across nine production floors, is located in the Las Cascadas shopping center in Antiguo Cuscatlán and involved a $29.2 million investment. It features 910 parking spaces, eight elevators for 15 passengers, a boardroom on the 16th floor with a 360° view, and terraces on the seventh, tenth, and fourteenth floors.
In 2024, El Salvador saw a mix of significant investments from Salvadoran and multinational companies, some completed and operational, while others are set to begin in 2025. Despite a decline in foreign direct investment compared to the previous year, key projects demonstrated ongoing efforts to boost the Salvadoran economy in 2024 and job creation. Notable investments included Agrisal’s Plaza Mundo Usulután shopping mall and apartment complex, Grupo Bimbo’s new production plant, and PriceSmart’s fourth shopping center in Santa Ana. Indufoam expanded its production capacity, while Nestlé established a new distribution center. Luxury hotel chain JW Marriott announced its entry into El Salvador, and real estate developer Sforma broke ground on the Origin apartment building. Additionally, Telus International opened its fourth operations center to meet regional demand. These projects, totaling hundreds of millions of dollars, highlight opportunities for economic growth despite challenges in attracting foreign capital.