Bali's tourism sector has made a remarkable recovery in 2023, following two years of disruption caused by the COVID-19 pandemic. According to the latest data from Indonesia’s Ministry of Tourism and Creative Economy (Kemenparekraf), Bali welcomed 2.89-million international tourists from January to July 2023. This represents an eye-watering 968% increase from the same period in 2022, when the island received only 296,000-international visitors.
This impressive rebound has been driven by a number of factors, including the easing of travel restrictions, the launch of new government initiatives to promote tourism, and the continued popularity of Bali as a global travel destination.
In July 2023, Bali recorded its highest number of international tourist arrivals since the pandemic, with over 541,000-visitors; an increase of 13% from June and a 59% increase from July 2022. Indonesia’s Ministry of Tourism and Creative Economy say that the top five source markets are Australia, Singapore, India, the United States and Malaysia, accounting for around 60% of all international tourist arrivals to the island.
In addition to its strong recovery in international tourism, Bali has also seen a significant increase in domestic tourism in 2023. According to the Bali Central Bureau of Statistics, the island welcomed over 8-million domestic visitors in the first seven months of the year, representing a 147% increase from the same period in 2022. This increase in domestic tourism has been attributed to a number of factors, including the government's decision to extend the school holidays and the launch of new domestic tourism promotion programmes.
Bali's quick recovery from the COVID-19 pandemic is a testament to the resilience and strength of its tourism sector. The island has also been recognized for its excellence in tourism, winning a number of prestigious awards in recent years, including:
It doesn’t stop there. Bali has also been recognized for its initiatives in sustainable tourism. A number of awards have been given for efforts to protect the island’s environment and culture, while also providing economic opportunities for its people, including the World Tourism Organization (UNWTO) Global Tourism Award for Innovation in Sustainable Tourism (2022); Green Globe and EarthCheck Gold Certification for a number of hotels and resorts; Travel + Leisure World's Best Awards for Green Hotel (2023); and Condé Nast Traveler Readers' Choice Awards for Best Green Hotel (2023.)
These awards recognize Bali's commitment to sustainable tourism practices, such as reducing its environmental impact, supporting local communities, and preserving its cultural heritage and why it remains such a popular destination for tourists and expatriates alike.
Based on current trends, all signs point to a strong recovery for Bali's tourism sector in 2023. The Indonesia Tourism Development Corporation (ITDC) and Kemenparekraf predict that Bali will welcome over 5-million international visitors and 15-million domestic visitors by the end of the year and is expected to grow further as we head into 2024. If these predictions are realized, this would represent a significant increase from 2022, when the island welcomed 2.3-million international visitors and 10-million domestic visitors.
Tourism is a major contributor to Bali's GDP and provides employment for millions of people and this strong recovery in the island’s tourism sector is good news for the island's economy and its people.
Underlining this is the Balinese government’s commitment to supporting the tourism sector and ensuring its sustainable growth by implementing a number of initiatives to promote tourism, including the development of new infrastructure and attractions, and the training of tourism workers.
This thriving tourism industry also translates into significant rental income potential for real estate investors. With a robust demand for holiday rentals, investors in Bali can look forward to attractive rental yields and a steady stream of income.
As Bali’s leading property developer with 57,000-square metres under construction and 116,000-square metres of completed construction, Mirah Investment & Development are well established as the market leader with years of experience in bringing luxury developments to the most sought-after locations across the Indonesian archipelago. An extensive in-house team of locals and expatriates offer end-to-end services from architecture and design to professional property management as well as legal, taxation and immigration support, which means your assets are protected, re-sale values rise, ROI’s are higher and you’ve always got someone to go to when you need to.
If you’re keen to discover more about investing in Bali with Mirah Investment & Development, see some of their exceptional Bali developments:
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