Indonesia’s tourism and creative economy sectors show promising growth, with Bali positioned as a key investment destination for health, wellness, and sustainable tourism
On October 17th, 2024, Indonesia’s Minister of Tourism and Creative Economy, Dr. H. Sandiaga Salahuddin Uno, introduced investment opportunities in Bali’s tourism and creative economy sectors at the Bank of Singapore Forum, held at The Apurva Kempinski Bali. He emphasised the strong recovery of Indonesia’s tourism industry, with 11.7 million international visitors recorded in 2023.
Dr. Sandiaga highlighted a shift from quantity-based tourism to quality-based tourism, with Bali transitioning from being known for “sun, sea, and sand” to promoting “serenity, spirituality, and sustainability.” He pointed out that tourist spending had nearly doubled, with revenue per visitor increasing by 45 to 50 percent since the COVID-19 pandemic.
Key investment opportunities discussed included green investments, with a focus on health and wellness tourism in Bali’s special economic zones (KEK) Sanur and KEK Kura-Kura Bali. Dr. Sandiaga noted that these zones would also host sports tourism and creative events, positioning Bali as a potential hub for family offices, which manage the wealth of large families.
Accompanying Dr. Sandiaga at the forum was Deputy for Industry and Investment, Ms. Rizki Handayani. He expressed optimism that Indonesia’s investment in the tourism sector, valued at $1.58 million USD by mid-2024, would continue to grow, projected to increase by 38.3 percent. Efforts are underway to provide tax and non-tax incentives to attract further investment into the country.
