The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Tourism is a key growth area under economic diversification plans in Indonesia and measures
to broaden the appeal of the country in a competitive region are yielding tangible results. Visitors from 169
countries can now take advantage of visa-free travel to Indonesia and the country is rapidly expanding air
travel connections to a broad range of source markets. As such, we are forecasting rapid growth across our
key tourism market indicators, including arrivals, tourism-related expenditure and industry value, though
we do note that downside risks stem from ongoing security concerns in the country.
Key Updates And Forecasts
? Neighbouring Singapore has reported several cases of the Zika virus in recent weeks and as a result
countries including the United States, South Korea, Taiwan and Australia have issued travel warnings.
Proximity and the role of Singapore as an air travel hub for visitors from many global markets mean the
spread of the virus could deter visitors to Indonesia.
? Westin, part of the Starwood Group, has become the latest global hotel brand to launch in Indonesia
with a new hotel opening in Jakarta in September 2016. A number of other new hotels are under
development, including a luxury Six Senses brand hotel due to open in Uluwatu, Bali, in late 2017.
? At present we are forecasting 5.7% growth in international tourism arrivals to Indonesia in 2016.
Neighbouring Asia Pacific states, including Singapore, Australia, Malaysia and China, will remain the
largest inbound source markets, benefiting from numerous and low-cost travel connections.