Foreign investment in El Salvador reached $165.6 million during Q1-2022

The President of the Central Reserve Bank of El Salvador (BCR), Douglas Rodríguez, stated on Thursday that the net flow of foreign direct investment in the first quarter of 2022 amounts to $165.6 million.

According to BCR authorities, the countries that are investing in El Salvador are the United States, Spain, and Mexico.

The report provided by the BCR also details that the added value generated in production increased in 14 of the 19 branches of economic activity; where those that had the best performance and impact on growth were: transportation; administrative and support services; government services; restaurants and hotels; health and electricity, which together contributed 1.8 percentage points.

“At the level of Latin America, El Salvador is in a much better situation than other countries; (we are) the fourth country with the lowest inflation in Latin America,” said Rodríguez.

Economic growth is due, according to the BCR, among other factors, to the revitalization of tourism from abroad and internally, the relaxation of health requirements to enter the national territory and the efforts of the government of President Bukele on security issues. public.

“According to data from the Ministry of Tourism, only in the first quarter of 700,000 tourists entered El Salvador, a fairly high number; while the CEPA data confirmed that the entry of passengers had an increase of 125%; likewise, the ISTU reported that $99.7 million was collected as a result of foreign exchange from tourism”, highlighted the head of the BCR.