Bali :

News Flash:

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

 

Latest Article

Join Our Online Forum

The Bali Expat Forum is one of the longest-running online communities for expats living in Bali. Click here to join

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.