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Indonesia Tourism Report Q2 2010
Business Monitor International, April 2010, Pages: 48
The Indonesia Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Indonesia's tourism industry.
2009 – A Steady Year
Indonesia weathered the adverse economic conditions of 2009 better than some of its regional peers, largely due to its reputation as a low-cost destination. Full-year arrivals data from the Indonesian statistics agency, Badan Pusat Statistik (BPS), showed that some 6,323,730 people visited the country, an increase of 1.43%. The data show that tourists were not affected by the bombing of two hotels in Jakarta in July 2009 – incidents that we had thought might put downward pressure on visitor numbers over the year as a whole.
Given the robust state of the Indonesian tourist industry even when confronted with challenges such as terrorism and pandemics, it would appear that 2010 should be another positive year for Indonesian tourism. BMI has long held a positive view about the long-term potential for the industry. That said, much will depend on the security situation in the country. Any recurrence of bombings aimed at tourist destinations would force us to revise our predictions for tourist arrivals.
Garuda to delay listing?
In February 2010, Reuters reported that Garuda Indonesia’s long-awaited IPO may be postponed until Q310, as the company seeks a more conducive global economic backdrop for the launch. The IPO is expected to raise some US$300-400mn for the airline, to help it fund fleet expansion and improve its capital structure.
Speaking to the BBC in February, Garuda’s CEO Emirsyah Satar said that he hopes to expand the company’s fleet from a current level of 67 to 116 by 2014. The majority of the fleet will be Boeing 737- 800s, with the company also operating Airbus A330s and 10 777-300ERs. Satar is also hopeful that the airline can commence a route to Taipei in 2010 and increase the frequency of routes into China, Australia, Japan and South Korea.
Tune Hotels Set For Expansion
In December 2009, Malaysian hotel chain Tune Hotels announced plans to build 24 new budget hotels in Indonesia by 2015. Reported sites for the new hotels include Jakarta, Medan and Bandung. Tune already owns two hotels in Bali: a 170-room property in Legian on the west coast and a 139-room hotel in Kuta in the south.
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