The latest real estate centric news and Bali market updates.
Data period: 2009-2023
Area: Bali
After a severe global stop to travel in 2020-2021 Bali is now on the recovery path.
In 2023 Bali welcomed approximately 5,300,000 international visitors.
Data period: 2014-2022
Area: Bali
Bali has been steadily growing in the past. Tourism in Bali is expected to reach 7.000.000 arrivals in 2024.
Data period: 2022
Area: Bali
Australian nationals are still dominating Bali tourism followed by Europeans. Together, these 2 demographics constitute approximately 50% of the total arrivals in Bali.
Data period: Q1 2019- Q3 2023
Area: Bali
Bali economy has been recovering very well after Covid and is now consolidating in preparation to further growth.
Data period: Q1 2020- Q4 2023
Area: Bali
During the pandemic agriculture spiked higher. Now is in a steady decline due to increased construction activities. Transportation and warehousing is also signaling an increase in demand manifested in early 2022.
Data period: 2007-2023
Area: All Bali regencies
Data period: 2007-2023
Area: All Bali regencies
The increase of working population in a specific area helps to outline the status of the local economies in Bali.
The highlights of 2023 data are:
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Data period: Q1 2020- Q4 2023
Private consumption expected to drive growth in 2024, supported by increased business investment and public spending from reforms and government projects.
Data period: Q1 2020- Q4 2023
A positive balance of payments indicates that a country is exporting more goods and services and receiving more income from abroad than it is spending on imports and foreign investments.
A highly strategic location for those seeking the true Balinese experience and cultural immersions.
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Private consumption expected to drive growth in 2024, supported by increased business investment and public spending from reforms and government projects.
Title: Bali Market Update 2023: Navigating Recovery and Growth
Bali, a jewel in the crown of Indonesian tourism, has been navigating a complex landscape of challenges and opportunities. As of 2023, the island is making strides in recovery, with promising indicators across various sectors.
1. Total Flow of Tourist Arrival (2009-2022):Bali's tourism industry, after facing a severe global halt in 2020-2021, is now on a recovery path. The anticipation for the 2023 data is high, as it is expected to provide a comprehensive overview of Bali's resurgence as a favored tourist destination.
2. Tourist Arrival by Continent (2014-2022):The island's tourism has shown resilience, steadily growing even in the face of adversity. Projections for 2024 indicate that Bali is set to welcome around 7 million visitors, showcasing the remarkable strength of its tourism sector.
3. Tourist Arrival by Country (2022):Australian nationals continue to lead the way in Bali's tourism landscape, closely followed by Europeans. Together, these demographics make up a significant portion of the total arrivals, underlining the global appeal of Bali as a preferred travel destination.
4. Economic Growth YOY (Q1 2019 - Q3 2023):Bali's economy is not only recovering from the impact of the pandemic but is actively consolidating for future growth. The data from Q1 2019 to Q3 2023 reveals a positive trajectory, signaling resilience and adaptability in the face of challenges.
5. Accommodation, Transport, Agriculture (Q1 2020 - Q4 2023):Shifts in Bali's economic landscape are evident in the performance of key sectors. Agriculture, which saw a spike during the pandemic, is now in decline due to increased construction activities. Conversely, transportation and warehousing are experiencing an uptick in demand, especially noted in early 2022.
6. Working Population (2007-2023):Bali's working population has been on a consistent upward trend. In 2023, specific regions like Buleleng and Tabanan are emerging as economic hotspots, while Badung faces a minor contraction, and Denpasar navigates potential slowdowns due to workforce dynamics.
7. Inflation (2003-2023):While inflation details for Bali are not explicitly provided, the broader context of Indonesia's inflation can influence local markets.
8. Indonesia GDP (Q1 2020 - Q4 2023):Indonesia's positive GDP outlook bodes well for Bali. Private consumption is expected to drive growth in 2024, supported by increased business investment and government projects, setting the stage for broader economic recovery.
9. Balance of Payments (Q1 2020 - Q4 2023):Maintaining a positive balance of payments, Indonesia, and consequently Bali, is thriving in international trade, exporting more goods and services than it imports, signaling economic robustness.
In conclusion, Bali's market update for 2023 reveals a story of resilience, adaptability, and growth. As the island continues to recover from global disruptions, the strategic shifts in tourism, economic activities, and global trends position Bali as a dynamic market to watch. Investors, businesses, and enthusiasts alike can find opportunities in Bali's evolving landscape as it emerges stronger on the path to prosperity.