5 Reasons Why El Salvador Should Be on Your Radar
Attentive ears have already heard about El Salvador’s slow sidestep into the spotlight. The Central American country so recently ravaged by gang violence has seen a rise in safety and living standards over the past few years, positioning itself as an ideal destination for expats and outside investors. Its idyllic coastline and volcano-strewn countryside are more accessible than ever, with a seismic shift in safety standards, eased access to visas, and cuts to overseas taxes helping the war-worn country to revive.
Get in ahead of the crowds while costs are still comparable to their northerly Mexican neighbors as El Salvador ramps up in 2024.
El Salvador's rise as a prime destination may still be under the radar for many, but it won't be for long. With its picturesque landscapes, business-friendly policies, and increasing safety, the country is poised to become the hidden gem of Central America. Here are five compelling reasons why you should consider El Salvador for your next adventure or investment opportunity:
1. A Surge in Safety and Security
In recent years, El Salvador has made significant strides in reducing its crime rates. The government's efforts to combat gang violence have led to a safer environment, making it more appealing to foreign visitors and investors alike. In fact, the country's murder rate has dropped by over 50% since 2015, putting it on par with other popular Latin American destinations. These improvements can be attributed to:
- The government's "Mano Dura" (Iron Fist) policies to fight organized crime
- Community-based programs targeting at-risk youth
- Improved international cooperation and support
As a result, tourism is flourishing, and foreign investment is on the rise – two significant indicators of the country's successful transformation.
2. Affordability and Value
One of the most attractive aspects of El Salvador is the cost of living. While the country is rapidly developing, it remains more affordable than its neighbors, such as Costa Rica and Panama. For example, the average cost of:
- A meal at an inexpensive restaurant: $5-7
- A monthly rent for a one-bedroom apartment in the city center: $300-400
- A monthly utilities bill for a small apartment: $50-80
These figures make El Salvador an excellent option for retirees, digital nomads, or investors looking for value without sacrificing quality of life.
3. Stunning Natural Beauty
From its Pacific coastline to its volcano-studded highlands, El Salvador offers a diverse array of breathtaking landscapes. Nature enthusiasts can explore:
- The Cerro Verde National Park, with its lush cloud forests and hiking trails
- The Ruta de las Flores, a scenic roadway through picturesque villages and coffee plantations
- The stunning beaches of La Libertad and El Sunzal, perfect for surfing and swimming
El Salvador's natural beauty is not only captivating but also easily accessible, allowing you to enjoy its wonders without extensive travel.
4. Business-Friendly Environment
El Salvador's government encourages foreign investment, providing a variety of incentives for businesses, such as:
- Tax exemptions and deductions for up to 10 years
- streamlined procedures for company registration and importation
- Access to government-backed financing and credit
These initiatives make it easier for investors to establish and grow their businesses, capitalizing on the country's potential for growth and development.
5. Expansive Infrastructure Development
In the past decade, El Salvador has made significant investments in its infrastructure, with upgrades in:
- Roads and highways, including the construction of a new airport
- Telecommunications, with 95% of the population now having access to the internet
- Energy, with an increasing emphasis on renewable sources such as wind and solar power
This progress not only modernizes the country but also facilitates business operations and the daily lives of its residents. In conclusion, El Salvador presents a world of potential, offering an irresistible mix of affordability, safety, natural beauty, and economic promise.