Bank Indonesia Projects Bali’s Economy to Strengthen in Q3 2022

According to a report published by Bisnis.Com, Bali’s economy is projected to strengthen in Q3 2022 in line with the increasingly open tourism sector. The Bank Indonesia Representative Office for Bali projects that the tourism sector will improve as foreign tourists coming to Bali are predicted to increase.

The increase in foreign tourist arrivals is driven by the increasing number of direct international flights. Currently, there are 21-direct international routes to Bali from 12-countries. International flights to Bali are served by 23-airlines.

The strengthening of Bali’s economy was also driven by the acceleration of booster vaccinations and a second booster vaccination for health workers. In addition, the control of Foot and Mouth Disease (FMD) is also getting better.

The Head of the BI Bali Representative, Trisno Nugroho, explained that various infrastructure developments, and supporting events ahead of the G20 Summit (KTT) were also a driving force for economic growth in Bali in Q3 2022. “Looking at various indicators that are getting better, we project that in Q3 2022 Bali’s economy will be stronger,” Trisno explained from his official statement, on Monday.

In Q2 2022 Bali’s economy grew by 3.04-percent (Year-on-Year.) Positive growth was driven by the Bali Arts Festival (PKB), G20 state ministerial meetings and the increasing number of foreign tourists entering Bali. In addition, religious holidays such as Galungan and Kuningan, the celebration of Eid al-Fitr also boosted Bali’s economy.

“The performance of the manufacturing industry has also grown due to increased demand after the tourism sector opened. Demand for manufacturing industry products has also increased from the global market,” said Trisno. Bali’s overseas trade also increased in the Q2 2022, driven by the increasing number of direct international flights that can carry exported goods to destination countries. In addition, household consumption also experienced growth driven by the school holiday season in July 2022.


 Sources: Bisnis.Com


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