The number of foreign tourist arrivals decreased by 64.11 percent in March of this year compared to the same period in 2019, the Statistic Indonesia reported today - Photo by Bali Provincial Government

JAKARTA (TheInsiderStories) — Good morning! The government faced difficulties to meet this year’ target of 17 million foreign tourists arrivals. Multiple disasters and numbers of national incidents considerably decreased tourists visits to Indonesia until this year’s end.

The number of foreign tourist arrivals throughout January to October, 2018 reached 13.24 million people. While, the Statistics Indonesia recorded as many as 1.29 million foreign tourists entered Indonesia or dropped 5.74 percent compared to the previous month.

While, A number of financial technology-based (FinTech) companies peer to peer (P2P) lending are ready to expand to countries in the Southeast Asia region by 2019. There are around three FinTech companies that will expand the market to the region. They are Kredivo, Investree and UangTeman.

The National Online Shopping Day or Harbolnas 12.12 event was launched yesterday and targeting to raise Rp7 trillion (US$482.76 million) sales. The target was increased compared to 2017, which reached Rp4 trillion.

Harbolnas is an annual activity held jointly by various e-commerce in Indonesia which started seven years ago. 300 industry players would be involved in this year’s Harbolnas, including local entrepreneurs who will introduce local brands and local products.

Afterward, the Agency for the Assessment and Application of Technology officially introduced two charging stations for electric vehicles. The introduction of the country’s major charging stations was participated by PT Mitsubishi Indonesia.

Following United States-China trade war ceasefire, the bamboo curtain country started to show its commitment by re-importing soy and liquified natural gas from United States. It is the initial act taken, affirming US President Donald Trump’s statement, saying China has agreed to purchase several US products.
Friction between the two superpowers is considered not going to continue next year so that the Indonesian economy can be at the level of 5.3 percent. Coordinating Minister for Economic Affairs Darmin Nasution mentioned that it is not a difficult task to fulfil economic growth on target, in accordance with the macroeconomic assumptions of the 2019 state budget. Government is also optimistic that 2019’s inflation rate will still be in a safe level at 3 percent.
Thus, world economic slowdown will not dampen Indonesia government’s move to implement supply side economic policies, as it has positive impact on the economy and other social indicators.
Ahead of christmas and new year holiday, sea transportation users is predicted to increase by 3.49 percent or 37,564 passengers, from 1.03 million passengers at same holiday period last year. Anticipated the uptrend, Transportation Ministry prepared 1,293 ships to carry 3.41 million passengers.
Peak time of passengers is predicted to occur on Dec. 22 and 29, 2018, also Jan. 2, 2019. Government will prepare posts in 52 ports across Indonesia, starting from Dec. 18 to one month after.
Yesterday, Rupiah weakened by 0.62 percent to 14,383 compared to US dollar. The Jakarta Composite Index also closed in red territory, declined by 0.32 percent to 6,133.12.
May you have a profitable day!
US$1: Rp14,500
Written by Linda Silaen and TIS Intelligence Team, Please visit our new website to get more insight on Indonesia’s economy: