El Salvador is set to undergo an economic transformation with a focus on tourism through megaprojects like Surf City II and a new Pacific airport. However, concerns surround ecological damage and sustainability, as well as the effectiveness of this strategy in addressing the country’s significant economic problems.
A Vision for the Entire Country
The Plan
The government is banking on a ripple effect and pinning hopes on tourism. The “Surf City II” project aims to appeal to water sports enthusiasts from all over the world, with plans for a new, second Pacific airport to bring tourists directly to the beaches. Investors also plan to build new hotels for these target groups.
Concerns
However, concerns are high about the ecological damage of this project and its sustainability. Ines Klissenbauer, Central America expert at Adveniat, believes it is another attempt by President Bukele to attract capital to the highly indebted country.
Claudia Ortiz from the oppositional Vamos party remains skeptical, comparing the project to El Salvador’s failed Bitcoin strategy. She criticizes that Bitcoin is part of an authoritarian project and a system in which public funds are used at discretion and without transparency.
Economic Problems
El Salvador’s economic problems will not be solved by making Bitcoin a legal tender, according to Ortiz. The average person is far from being able to afford the virtual currency.
Confident Industry
Despite concerns, the majority of the Salvadoran population feels liberated. Small and medium-sized businesses no longer have to pay protection money to the Mara gangs, and confidence is now significantly higher among the German-Salvadoran Chamber of Commerce’s members.
Numerous companies are considering investments in renewable energy supplies, upgrading machinery, and hiring new staff. Google also opened a new headquarters in San Salvador, aiming to help digitize and modernize the country.
A Symbol for Hope
The new Google headquarters has become a symbol for the hope that the economic miracle could actually be on its way.
Controversial Megaprojects
The government is pinning further hopes on tourism through megaprojects like “Surf City II,” which aims to appeal to water sports enthusiasts from all over the world. Plans for a new Pacific airport are also in the pipeline, aiming to bring tourists directly to the beaches.
Questioning the Promises
However, not everyone is confident in these promises. Ines Klissenbauer, Central America expert at Adveniat, fears that the ecological damage of this project is substantial and impossible to implement sustainably. Claudia Ortiz, a Salvadoran opposition politician, remains skeptical about the new economic miracle, comparing it to the country’s failed Bitcoin strategy.
El Salvador still faces significant economic problems and needs. The average person cannot afford virtual currency like Bitcoin, which was made legal tender in the country. Critics argue that this will not solve El Salvador’s economic problems or meet the economic needs of its people.
