JAKARTA (TheInsiderStories) — Good morning! Number of foreign tourists coming to Indonesia not reach government target at 17 million people. According to the Statistic Indonesia, there were only 14.39 million foreign tourists visited Indonesia during January to November 2018.
The number of foreign tourist arrivals throughout January to October, 2018 reached 13.24 million people. The agency’ chief Suhariyanto said, multiple disasters and numbers of national incidents considerably decreased tourists visits to Indonesia.
In 2019, Indonesia’ measure to boost tourism, aims to raise US$20 billion of foreign exchange revenues in 2019, said Tourism Minister Arief Yahya, on Oct. 23. The targets are three billion dollars increase from this years’s target.
So far tourism is the fourth biggest contributor of foreign exchange, after crude palm oil, oil and gas, and coal. As Indonesia’s developing tourist destination, foreign exchange revenues growth in the sector followed.
Yesterday, most of regional stocks market started falling in the 2019’s debut. HangSeng dropped by 3.77 percent, Shanghai slashed by 1.37 percent, and KOSPI decreased by 1.52 percent. Meanwhile, Jakarta Composite Index declined by 0.21 percent to 6,181.17 with mining sector burdened the most.
One of the factors, world oil price slumped by 1 percent from last week, triggered by an increase in United States (US) oil production. Brent international oil price reference for March 2019 delivery is $53.27/barrel, which was the lowest record since 2015.
Moreover, China released a disappointing Caixin Manufacturing Purchasing Managers Index at 49.7 in December, impacted by the trade war with the US. The ongoing condition made 2019 started with slowdown economic growth. Chinese under-expected manufacturing PMI data has made investors switched to safe haven like gold, bonds, and Yen.
Then, Coordinating Minister for Economic Affairs Darmin Nasution assured that this year inflation will continue to be under-control. Nasution said after last year, government can manage inflation in stages, amid there were some commodity price increase. Indonesia’s 2018 yearly inflation was maintained at 3.13 percent.
While, Bank Indonesia (BI) affirmed monetary policy direction will be focused on stability, without setting aside instrument to boost economic. This year, said the central bank Governor Perry Warjiyo, the Bank will continue the pro-stability and pro-growth stance by maintaining inflation and stabilising Rupiah with pre-emptive and ahead the curve policies.
He is positive that global economic turmoil will set to calm this year. As China and US trade war is under truce, and both countries top officials will meet again in Beijing this month.
Furthermore, oil & gas producer, PT Medco Energi Internasional Tbk (IDX: MEDC) will acquire a London-based Ophir Energy Plc. shares. Its subsidiary, Medco Energy Global Pte. Ltd. is now discussing the agreement.
According to company’ official website, Ophir Energy’s upstream oil and gas exploration and production focuses on Asia and Africa. In the first half of 2018, Ophir’s production reached 11,400 barrel oil equivalent per day.
It booked $102 million revenue and $43 million net funds flow from production. Then the net cash was $75 million and $371 million liquidity.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Get More insight on Indonesia’s Economy and Politic On Our Website