Speaking at the Bank of Singapore Forum at The Apurva Kempinski Bali on Thursday (10/17/24,) Sandiaga Uno, Indonesia’s Minister of Tourism and Creative Economy/Head of the Tourism and Creative Economy Agency (Menparekraf/Kabaparekraf,) introduced investment opportunities in the tourism and creative economy (parekraf) sector in Bali, according to an official press release from the ministry.
The minister said the tourism sector showed an extraordinary recovery for Indonesia. In 2023, as many as 11.7 million foreign tourists visited Indonesia, adding that “Tourist spending has almost doubled. Average revenue per arrival has reached 45 to 50 percent since the COVID-19 pandemic.”
This is influenced by the change in the tourism paradigm, which was originally based on quantity, to quality-based tourism.
“And Bali, which was once known as sun, sea, and sand, is now better known as serenity, spirituality, and sustainability,” said Sandiaga.
The investment opportunities offered by Indonesia, especially Bali, are green investments. Where investment development in Bali is currently focused on health and fitness tourism located in the Sanur Special Economic Zone (KEK) and the Bali Kura-Kura KEK.
“Later, these two KEKs will also be used for various sports tourism activities to creative events. And we see Bali as one of the potential markets for family offices, ” said Sandiaga.
A family office is a financial consultancy formed by an extended family to manage their wealth, providing a range of financial and management services, including investment management.
Of course, the initiative to present a family office in Bali provides benefits to the Indonesian economy by increasing domestic investment.
The investment value in Indonesia’s tourism and creative economy sector itself has reached USD 1.58 million by mid-2024. This figure is projected to grow by 38.3 percent.
“And the KEK is directed to welcome several of these family offices. We are also trying to provide tax cut incentives and other non-tax incentives. This policy relaxation is something that is in the process. Hopefully, with this forum, it will open up more opportunities for investment in Indonesia,” Sandiaga said.
Accompanying the Minister was the Deputy for Industry and Investment of the Ministry of Tourism and Creative Economy/Baparekraf, Rizki Handayani.
Source and Image: Ministry of Tourism and Creative Economy Press Release
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