WTTC predicts that 2024 will be Indonesia’s biggest year ever for travel and tourism, with employment exceeding 12.5 million and economic contribution reaching IDR 1,131 trillion.
of World Travel and Tourism Council (WTTC) 2024 Economic Impact Study (EIR) Predicting a record-breaking year Indonesia Travel and Tourism By 2024, employment in the sector is expected to surpass 2019 levels and reach more than 12.5 million.
This year, the international organization’s annual data predicts that the tourism sector is full of opportunities, with other indicators such as economic contribution and domestic tourist spending expected to hit new records.
According to the latest figures, the sector’s contribution to Indonesia’s economy is expected to exceed Rp1,131 trillion this year, up 12.3 percent from last year and 7.7 percent from its peak in 2019, showing robust growth.
This reflects the important role played by the sector, which accounts for 5.1% of the country’s GDP.
Domestic tourist spending is forecast to reach a record Rp344 trillion, 9.7% above 2019 levels, while international tourist spending is expected to increase to Rp291 trillion (US$19.1 billion), 5.4% below 2019 levels.
Indonesia offers an open and attractive environment for tourism investment and offers many advantages for investors.
The government’s open policy and supportive measures encourage investment in tourism infrastructure, providing significant opportunities for growth and economic benefits.
Julia SimpsonWTTC President and CEO said:The remarkable growth of Indonesia’s travel and tourism sector is a clear indication of the government’s strategic vision and commitment to the sector.
“The policy has fostered an environment conducive to investment and development, significantly enhancing Indonesia’s status as a top travel destination.”
Looking back on 2023
Indonesia’s travel and tourism sector showed a strong recovery last year, growing 29.5% to IDR 1,008 trillion, accounting for 4.8% of the country’s economic output.
More than 543,000 new jobs were created in the sector, reaching more than 12 million, just 2.3 percent below 2019 levels.
Last year, international expenditures showed a notable increase, growing by 121.2% to Rp238 trillion, while domestic expenditures increased by 8.2% to Rp321.4 trillion.
What does the next decade hold?
By 2034, the sector is expected to contribute approximately IDR 1,828 trillion annually to Indonesia’s GDP, accounting for 5.3% of the economy. Employment is projected to exceed 17 million, with one in nine people working in the travel and tourism sector.
Throughout Southeast Asia
Southeast Asia’s travel and tourism sector is forecast to grow 20.6 percent this year to reach IDR 5.8 trillion, accounting for 9.7 percent of the region’s economy and on track to surpass its 2019 peak.
Employment is expected to reach more than 42.4 million, up 5.6% from last year and exceeding 2019’s level.
International travel spending is expected to grow 33.2% to Rp2.3 trillion, below 2019 levels, while travel spending by domestic tourists is expected to grow nearly 15.8% to Rp2.8 trillion, up 6.7% from 2019 levels.
WTTC projects that travel and tourism in the region will continue to grow over the next decade, contributing nearly IDR 9.9 trillion to GDP. It is projected to employ more than 56.5 million people and create over 14 million new jobs.
As an intern, George closely monitors news trends, helps with content publishing, and delves into social media distribution strategies. He is currently studying Business Administration at the Athens University of Economics.
