There is much to be happy about if you are an Indonesian, about the country’s prospects in the Indonesia Tourism industry. Indonesia’s tourism industry has witnessed a strong growth over the past two years because of how popular the country has been with foreign tourists looking for decent getaways from work, at a rock bottom price.
There has been a strong increase in the number of hotel bookings in Indonesia and the domestic airlines are stronger than ever before, with an air of rising prosperity in the country. Tourism in Indonesia has been further boosted by the weakening of the Rupiah. With the Rupiah having become very cheap, we have seen Indonesia become highly affordable as a tourist destination.
The cheapening of the Rupiah has seen a strong influx of tourists to Indonesia from other emerging markets such as Russia, China and Saudi Arabia. Equally, the weakening of the Rupiah has acted as a deterrent to rich Indonesians seeking to travel abroad on a holiday. So, domestic tourism in the country has been as significant as tourism directed at foreign tourists, as rich Indonesians look to explore more of their country rather than travel to say, Spain or Australia.
So the weakening of the Rupiah has acted as a major boost to Indonesia Tourism. The challenges for tourism in Indonesia remain. Indonesia still grapples with a poor infrastructure, despite the Indonesian government’s best efforts in this regard. But we expect the slew of private-public partnerships undertaken by the government to boost the Indonesian infrastructure significantly.
Equally, there has been a concerted push by the Indonesian government to build the tourism infrastructure in the country. Government’s role in building Indonesian tourism cannot be denied. Also, the fast rising incomes in the country has helped significantly as the expectations have grown very fast and the people of Indonesia would like nothing short of the best. So the tourism industry has worked harder to keep up with mounting domestic expectations.
We have also been impressed with the slew of young Indonesian entrepreneurs building an online industry geared towards addressing the demand for rental bookings, hotel bookings, air travel, taxicab rentals and so on. The online travel industry has really taken off in Indonesia. Most online travel entrepreneurs in the country are looking for foreign business partners, and represent an excellent opportunity for a business partnership in Indonesia.
The domestic airline industry has however not kept up with the pace set by the online travel industry, with two budget airlines shutting up because of financial losses caused due to mounting competition resulting in the lowering of prices. Travelers in Indonesia are highly price sensitive, which has made air travel prohibitive for the companies involved. That aside, things look bright for Indonesia and Indonesian tourism.
Indonesia Tourism is not just about exploring the beaches in Sri Lanka, the Great Wall of China or the shopping malls of Singapore. It is equally about medical tourism (hospitals), health tourism (holistic health care centers) and business tourism (corporate retreats). To put it simply, tourism is BIG business in Asia. If your company in involved in tourism, this represents an excellent opportunity to form highly profitable business partnerships with local entrepreneurs involved in the Asian tourism industry.
In this series of articles based on the theme “Tourism Asia”, we analyze the strengths and weaknesses of the Tourism Industry in various Asian countries. Our goal is to feed you the most up-to-date information so that you’ll know exactly what lies ahead as you look to identify business partners and expand your business in these countries.
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