The most prominent sectors for this year will be construction, technology, financial services and tourism, driven by supportive government policies and a favorable business environment, informed the presidential commissioner, Cristian Flores.
For 2024, El Salvador presents a positive economic outlook in terms of investment attraction, in key sectors, thanks to stability and a favorable business environment, said recently, the presidential commissioner for Strategic Projects, Cristian Flores.
According to the official, the good performance of the country’s different economic sectors in 2023 will continue this year. In this scenario, he estimates that construction, technology, financial services and tourism will be the sectors that will experience the highest growth, driven by supportive government policies and a favorable business environment.
“Sectors that showed significant growth in 2023, such as construction, technology, financial services and tourism, are expected to remain attractive to investors. This is due to the foundations already in place and the momentum generated in these sectors in the previous year,” he said.
He also highlighted that international perception has improved due to effective fiscal policies and the strengthening of public security in El Salvador.
“The private sector shows optimism, supported by an improved business climate and a decrease in inflation. Together, these factors suggest an environment conducive to sustained economic growth and attractiveness for investment in El Salvador,” said the head of the Presidential Commission for Strategic Projects.
Likewise, Flores affirmed that in 2024, the Government of President Nayib Bukele will execute different investment projects in education and health, which will further strengthen the country’s social and economic development.
In his opinion, technological innovation, financial services and the adoption of cryptocurrencies such as bitcoin, could continue to attract investments in this sector.
“The Law for the Promotion of Innovation and Technological Manufacturing could play a crucial role in this aspect,” he commented.
He added that the tourism and hospitality sector could experience further growth, as it is attractive to investors interested in capitalizing on El Salvador’s growing international recognition as a tourist destination.
In fact, tourism authorities estimate that in 2024, the sector will receive around $3.8 billion in foreign exchange.
The official also explained that foreign direct investment (FDI) will maintain an upward trend, especially in areas where the country has proven to be attractive to international investors, such as technology and financial services.
For the official this investment could be higher than the one registered up to the third quarter of last year, when FDI reached $486.86 million, and added that the aforementioned sectors will continue to leverage this flow.
“Sectors that showed significant growth in 2023, such as construction, technology, financial services and tourism, are expected to continue to be attractive to investors. This is due to the foundations already in place and the momentum generated in these sectors the previous year. “Cristian Flores, presidential commissioner.
Source: Diario El Salvador
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