Lorena Robles

Last week, I flew from New York's JFK Airport to El Salvador. Here's what happened during my trip. Because of Bitcoin, I've been reading about the country and decided to visit. More on Bitcoin in a minute. I'll also comment on the topic of safety. First, here's a takeaway from what I saw: If I was an investor looking internationally for on-the-ground opportunities, I would immediately get an office in the capital, San Salvador, and look for ways to put money in the country -- by either starting a new business and employing Salvadorans, or backing an existing business. Multiple sectors are growing fast including tourism, hospitality and real estate. The opportunities seem huge. I stayed a week in San Salvador and in El Zonte ("Bitcoin Beach"). The first impression is at the airport, which is modern and efficient. Because of a delay in New York, my flight arrived in El Salvador a few hours late. But my hotel driver was there. He had been patiently keeping watch for me, and he was smiling as he held up a sign with my name on it. This was my introduction to the country, and it turned out to be representative of what I would experience during my visit. The people are friendly, hard working, proud, entrepreneurial, and family-oriented. You quickly notice that new construction and infrastructure improvements are happening everywhere. I was struck by how the construction workers seemed to be working very hard. You get the sense that this is a country on the move, and it's easy to see why El Salvador's financial situation has improved. The country's sovereign bonds have seen huge returns recently, and institutional investors should continue to watch for opportunities to allocate here. The goal in El Salvador seems to be a Latin American version of Singapore: business-friendly, growth-oriented, and tough on crime. Based on what I saw during my visit, this is achievable and they are making progress. Remember, Singapore wasn't always the type of country it is now -- far from it, in fact. It first needed the right policies and leadership. And by the way, I don't remember seeing the international media criticize Singapore for being tough on crime. Regarding safety, I felt totally safe and relaxed at all times in El Salvador -- much safer than even the best areas of New York City these days. The police and private security guards are everywhere and they are professional, courteous, vigilant and tough. You do not want to be a criminal here. But it was not always this way. I had an interesting conversation with a young man working in a small shop. He said before the crackdown on gangs, much of the money he earned had to be paid to the bad guys, so it was almost pointless to own or start a business. I asked him where the gang members are now. His reply: "Dead or in jail." During this trip, I developed a special contempt for people in North America and elsewhere who scold other countries for cleaning up crime while their own cities collapse around them. If there is something to keep an eye on, it's that President Bukele and his "new ideas" policies are clearly very important for continued progress. Bukele is hugely popular and viewed by many as a national hero, so it seems assured that the current progress will continue after the upcoming election. El Salvador's continued stability and future prosperity is important for the United States, and as a U.S. citizen I believe we should be doing everything possible to be a strong ally and support the country's current direction. Regarding Bitcoin, it's part of El Salvador's policy of "new ideas." During my visit, I realized that news reports about how much the country has gained or lost on BTC are ridiculous. Bitcoin has more than paid for itself. Without the country's adoption of Bitcoin, I would not have visited, nor would many others. But Bitcoin's benefits are not just about more tourism. It's part of a broader holistic education about computers, technology, finance, and personal growth and independence. (And I think this is a good narrative to use for Bitcoin as its adoption continues to spread globally.) Young people here are learning about Bitcoin. In coming years, they will have the knowledge and skills to get good jobs working for companies or start their own tech-related businesses. The introduction of Bitcoin by Bukele is probably one of the smartest socio-economic moves any country has ever made, and it will continue to pay dividends in various ways for years to come. Other countries should learn from this and do the same. Regarding young people and education, I toured the new national library in San Salvador, which is very impressive. Afterwards I asked myself: Do we still have the vision and willpower to build these types of public facilities in the US? I wonder about that. I know this twitter account has many readers who work in the financial sector, especially in New York. I encourage you to put El Salvador on your travel list. You'll find the economic development story interesting (historically, it's rare to be able to witness this type of national transformation as it's happening) and the authenticity is a wonderful change from Wall Street and its favorite vacation spots. You can get a direct flight in the morning and be on the beach or looking at a volcano that afternoon. Before you go, it's important to understand that this is not the Bahamas or the Hamptons (and guys, how many times can you visit those places?). It's unpretentious, raw and organic -- great food and coffee, surfing, and wild natural beauty. As for San Salvador, it's bustling and busy with upscale shopping and restaurants, and big hotels as well as leafy, quieter places to stay. This was my first visit to Latin America, and I don't speak Spanish, but everyone was smiling and helpful. I gave generous tips to anyone who helped me -- drivers, waiters, hotel staff -- and they were all very grateful. If you go, you should do the same. Be a good visitor. They're trying hard. As someone who remembers the news headlines about El Salvador going back 40 years, I never imagined myself making this trip, and it felt a bit surreal to be there. But what's happening is not only a national transformation, it's a story about human perseverance and triumph despite a tough history. We should be cheering them on. I look forward to returning.