What I've (Andres Ramirez) learned during my 2 month stay in El Salvador
If you want to live a certain lifestyle it can add up! Considering the value of the Canadian Dollar currently, watching your spending is important. There are ways to save money but one must do their research.
Groceries: buying ALL your groceries at large grocery store chains is not the most cost-efficient choice. There are local markets where you can save tons of money, especially on fresh exotic fruits and other produce.
Transportation: renting a car is not always the best choice. Consider using Uber as it is widely available and inexpensive. Uber is often more efficient considering time and no need to look for parking.
Hotels/ Air BnB: El Salvador is a place to explore and you do not need to stay at the most lavish place in order to enjoy the country. You will most likely just sleep there. Be open to different areas but also do your research and ask around for tips and advice; the locals are very friendly and helpful.
Investment Potential
Investors must keep in mind potential. El Salvador as many know has become safe in recent time. (Approx. 2-3 years ago) With many real estate markets across the world experiencing instability, many investors are now taking notice of El Salvador's potential.
As a Canadian investing in El Salvador, yeah it sucks paying 1.4-1.5 for every American Dollar but the potential to earn American dollars is also a possibility. Many sectors, not just real estate, are advancing in this country as tourism rises. Salvadorans world wide are returning & many countries are investing in ES.
In 2023, El Salvador received US$ 759.7 million in FDI, the highest in five years, surpassing by 60% the average of the last 10 years.
What has happened since my last visit?
Miss Universe 2023 was the 72nd Miss Universe pageant, held at the Gimnasio Nacional José Adolfo Pineda in San Salvador, El Salvador, on November 18th 2023.
El Salvador unveils ultra-modern national library gifted by China. (November 2023)
Messi, Inter Miami kick off preseason at sold-out Cuscatlán Stadium in El Salvador (January 2024)
Google Opens new office in El Salvador (April 2024)
El Salvador Ranks Among World's Safest Nations for First Time(September 2024) and is now the safest country in the Western Hemisphere beating Canada for the #1 spot.
El Salvador is sitting on $3 trillion worth of unmined gold, President says (November 2024)
Tourism is on the rise
In 2023, El Salvador's tourism industry saw a 40.4% increase in international visitors compared to 2019, making it a top travel destination in the region. The country's tourism sector is recovering and attracting more tourists than before the pandemic.
El Salvador is currently considered the second highest-performing tourist destination in the world, experiencing a significant rise in tourism compared to pre-pandemic levels, marking a major turnaround from its previous reputation as a dangerous area.
In 2024, El Salvador had 3.96 million international visitors, making it a top tourist destination in Central America.
With that being said: Many opportunities are available in infrastructure for tourism and for the Salvadorans who are returning to the country. DM us to learn more about which sectors look promising (other than tourism)
In conclusion
I am strongly considering living part time & investing in this great country due to its high potential and overall happiness I feel from being in the country and discovering:
- rich culture
- nice kind people
- amazing weather
- outdoor activities
- accessible organic food
- overall lower cost of living
- entrepreneurial opportunities
- the knowledge/ experience I have is very appreciated here
- the pupusas go for between $0.50-$1.00 each :)
- El Salvador is projected to become the central hub of the western hemisphere
Written by: A. Ramirez and J. Lemus