Salvadorans living abroad have significantly boosted El Salvador’s economy, investing $935 million in the past five years. This influx of capital has led to the execution of 245 projects, generating over 12,000 direct jobs and more than 24,000 indirect jobs nationwide, according to Invest in El Salvador.

The President of the Investment and Export Promotion Agency (Invest), Salvador Gómez Góchez, emphasized that these projects have been pivotal during the first term of President Nayib Bukele’s administration. Gómez Góchez highlighted the critical role of Salvadorans abroad, known as Salex, in contributing to the country’s economic growth.

Data from Invest reveals that these investments, spread across real estate developments, tourism, shopping centers, gas stations, hotels, and beauty salons, are testament to the confidence Salvadorans have in the current administration. Additionally, 50 projects are currently being expanded or are under execution.

“These successful projects have not only driven economic development in various regions but have also created numerous job opportunities for Salvadorans, particularly in their hometowns,” Gómez Góchez noted. He further highlighted the strong support President Bukele has received from the diaspora, which was evident in the 93% approval rate in overseas votes, leading to increased investment back home.

Gómez Góchez also mentioned that the second-generation Salvadorans born in the United States are starting to invest, motivated by the government’s vision and strategies.

In terms of employment, these projects have created approximately 12,078 direct jobs and 24,235 indirect jobs. The agency reports that 88% of these projects have been developed by Salvadorans residing in the United States, particularly from states like California, Texas, New York, Maryland, and Washington. The remaining 12% comes from compatriots in Canada, Costa Rica, Nicaragua, and some European countries.

Investment distribution across the country shows that 36% of projects are in the central region, 33% in the east, 20% in the west, and 11% in the paracentral zone. Visionary entrepreneurs like Dimas Escobar from Long Island, New York, have invested significantly, with Escobar dedicating $32 million to four real estate projects in La Unión. He cited the improved security climate fostered by the government’s strategies as a major factor in his decision to invest.

Another prominent investor, Luis Cuenca of the Hacienda Nueva project in Lourdes, Colón, echoed these sentiments, praising the government’s initiatives that have encouraged Salvadorans to invest in their homeland, creating new opportunities for the local population.

This robust investment from the Salvadoran diaspora continues to play a crucial role in the nation’s economic development, underscoring the strong ties and enduring commitment of Salvadorans abroad to their homeland.