Amazon CloudFront is a content delivery network (CDN) that caches content at edge locations around the world, providing low latency and high transfer speeds to users accessing the content. Adding a CloudFront distribution in front of the S3 bucket will cache the static website's content at edge locations around the world, decreasing latency for users accessing the website. This solution is also cost-effective as it only charges for the data transfer and requests made by users accessing the content from the CloudFront edge locations. Additionally, this solution provides scalability and reliability benefits as CloudFront can automatically scale to handle increased demand and provide high availability for the website.