Although international arrivals to Indonesia in November 2023 exceeded 10.4 million arrivals – surpassing the target of 8.5 million – Indonesia’s tourism investment is still not up to expectations and remains dominated by domestic direct investment.
According to the latest data from the Ministry of Tourism and Creative Economy (MoTCE), the total tourism investments between January and September 2023 was US$1.6 billion – 12 per cent lower than in 2022’s US$1.8 billion – out of which US$1.1 billion was domestic direct investment, while the remaining US$588 million was foreign direct investment.
Addressing delegates at the Indonesia Tourism Outlook 2024 Forum in Jakarta, Sandiaga Uno, Indonesia’s minister of tourism and creative economy stated that in order to boost foreign investment,…