The data on the share of travel services imports in total services imports in Indonesia from 2013 to 2028 shows a generally increasing trend until 2019, followed by a sharp decline in 2020 and 2021 due to the COVID-19 pandemic. The recovery starts in 2022, albeit slowly. The year-on-year variations indicate significant volatility, with a drastic drop in 2020-2021 and a strong recovery in 2022. The Compound Annual Growth Rate (CAGR) highlights a recovery phase with a forecasted modest growth of 0.15% over the five years leading to 2028, suggesting a slow but steady recovery in the travel sector.
Looking ahead, the gradual increase in the share of travel services imports suggests a cautious optimism for the travel industry in Indonesia. Key trends to watch include the pace of global travel recovery, changes in travel preferences post-pandemic, and Indonesia’s ability to attract foreign travelers through enhanced safety measures and marketing efforts.
