Source Market Insights; Indonesia
Source Market Insights: Indonesia provides an overview of the Indonesian outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of Indonesian tourists going abroad, their spending habits, and the main destination markets
Under President Joko Widodo in 2014, the Indonesian economy recovered from a brief post-commodity boom slow down. Indonesia Indonesia is now one of the strongest growing economies in Asia. The government has introduced reforms in investment licensing to encourage the growth of a diversified economy, meaning that the economic outlook looks robust for the foreseeable future. With this, the middle-income section of the population is expected to double in size by 2020, and outbound trips will increase from 8.6 million in 2014 to 12.5 million by 2019.
As consumer confidence continues to grow in Indonesia, there has been an increase in the frequency of Low Cost Carrier flights in the region, to nearby destinations such as Malaysia, Singapore, Thailand, Australia, New Zealand, Macau, Hong Kong, and the Philippines.
Following the removal of fuel subsidies and government reforms in investments, the World Bank forecasts that Indonesia’s GDP will grow by 6% annually over the forecast period. According to Bank Indonesia, the country’s consumer confidence increased by 3.7 points, reaching 120.2 point in January 2015. This is reflected in outbound expenditure, which has consistently grown over the past few years, to total US$11 billion in 2014, and is expected to reach US$16 billion by 2019.
Singapore is the top destination for outbound Indonesians. The removal of the exit tax in 2005 has spurred the growth in arrivals to Singapore. Additionally the country is easily accessible for Indonesians keen on making short and frequent trips to Singapore.
The report provides detailed market analysis, information, and insights, including:
Historic and forecast tourist volumes covering the entire Indonesian outbound tourism sector
Detailed analysis of the mode of transport preferred for outbound trips
Detailed analysis of the market trends in the Indonesian outbound tourism sector
Reasons To Buy
Make strategic business decisions using historic and forecast market data related to the Indonesian outbound tourism sector
Understand the key market trends and growth opportunities in the Indonesian outbound tourism sector, along with key trends and growth opportunities
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