• News
  • TIS Event
  • InsiderTV
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
The Insider Stories The Insiders Stories
The Insider Stories
  • News
  • TIS Event
  • InsiderTV
Home TIS Intelligence Morning Briefing: Number of Foreign Tourists Not Reach Target
  • TIS Intelligence

Morning Briefing: Number of Foreign Tourists Not Reach Target

By
Linda Silaen
-
January 3, 2019
Share
Facebook
Twitter
Email
WhatsApp
Linkedin
    Jumlah kunjungan wisatawan mancanegara atau wisman ke Indonesia sepanjang Mei 2020 mengalami penurunan sebesar 86,90 persen dibandingkan Mei 2019 - Photo: Special
    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
    • TAGS
    • Current Account Deficit
    • Foreign Touristd
    • PT Medco Energi Internasional Tbk
    • Stock Market
    • trade war
    Facebook
    Twitter
    Email
    WhatsApp
    Linkedin
      Previous articleInsight: Widodo Doubts Taking Policy Before Presidential Election 2019
      Next articleIndonesia’s Jasa Marga Prepares Capex US$1.8B in 2019
      Linda Silaen

      RELATED ARTICLESMORE FROM AUTHOR

      News

      Is a W-shaped Recession in Our Future?

      News

      More Selective Government Support Reduces Credit Quality of Indonesia’s SOEs

      News

      ASEAN-5 Face Rising Credit Risk as Stimulus Fails to Offset COVID-19 Impact

      News

      Indonesia’s Pelindo III Rating Stable, Pelindo II Downgraded

      News

      Moody’s Downgrades Jasa Marga, Wijaya Karya Rating due to COVID-19

      News

      Developing Asia to Grow Just 0.1%, Indonesia Contraction 1.0%

      Recent Posts

      • Indonesia’s Car Sales Drops 48.35% in 2020
      • Indonesia’s Austindo Prepares Free Float Share in This Year
      • Indonesia Posts Trade Surplus US$21.74B in 2020
      • Indonesia’s Tower Bersama Releases Global Bond US$300M
      • Indonesia’s PP Eyes New Contracts US$2.15B in 2021
      The Insider Stories
      The Insider Stories offer insight on Indonesia's economy. We provide a global reference for industry intelligence, news, information and data. We are the bridge that connects investors, the business community and policymakers. We are active across digital and events.
      Contact us: theinsiderstories@gmail.com
      • InsiderTV
      • TISIndonesia
      © © The Insider Stories