In a recent report by the Mastercard Economics Institute, it has been highlighted that tourists’ contributions have significantly increased in El Salvador due to their preference for the country following the pandemic and improved security conditions.
El Salvador has emerged as one of the most visited tourist destinations in Latin America and the Caribbean, attracting travelers in search of unique experiences. This trend has resulted in a notable surge in foreign currency inflows and the purchase of various products, as stated in a Mastercard Economics Institute report for the current year.
The report titled “Travel Industry Trends 2023” reveals a 213% increase in spending on experiences by travelers in El Salvador, surpassing countries like Mexico (+116%), Costa Rica (+144%), Jamaica (+105%), and Guatemala (+117%).
While the study highlights higher spending on experiences among Central American countries, El Salvador leads the way with a remarkable 213% increase, followed by Costa Rica at 144%.
Furthermore, the report points out that the spending on product acquisition has risen by 129% in El Salvador, exceeding “pre-pandemic levels” and underscoring a “strong tourist demand.” Costa Rica follows closely behind with a 107% increase.
“Potentially influenced by social media and entertainment, travelers are venturing into lesser-known destinations in search of cultural immersion,” highlights the report, which surveyed markets in Latin America and the Caribbean.
The report also emphasizes the preference for unique experiences over material possessions, stating that “the preference for experiences over things persists, with travelers expressing a preference for unique experiences.”
In addition to the increase in experiential spending, “Travel Industry Trends 2023” reveals the recovery of business travel. With the reopening of mainland China post-pandemic, consumer behavior expands, as travelers are attracted to pleasurable trips to new destinations worldwide.
The Mastercard Economics Institute further notes the current preference for leisure travel during this year.
During the global tourism recovery period, El Salvador stands out as one of the region’s countries with the best performance in terms of international visits and foreign currency income.
Under President Nayib Bukele’s government, El Salvador has placed a strong emphasis on supporting the recovery and expansion of the tourism sector. His administration has implemented programs aimed at promoting tourism growth.
The recovery of tourism in El Salvador can also be attributed to the public security strategy implemented by the Bukele administration through the Territorial Control Plan and exceptional measures.