Forecast: Tourism International Receipts in Indonesia

International receipts from tourism in Indonesia have shown significant fluctuations over the past decade. Between 2013 and 2019, the receipts steadily increased, with the highest year-on-year growth of 21.95% in 2018. This growth was abruptly halted by the COVID-19 pandemic in 2020, resulting in a drastic 80.81% decline. The recovery began in 2021, with a strong rebound of 233.26%. By 2023, tourism receipts stood at $22.96 billion, reflecting a year-on-year growth of 28.17% from 2022. The compound annual growth rate for the last five years stands at 5.08%.

Future projections from 2024 to 2028 indicate a steady increase in tourism receipts, with a 24.9% growth from 2023 and an average annual growth rate (CAGR) forecasted at 4.55%. The industry is likely to benefit from increased international travel, marketing efforts, and improved tourism infrastructure.

Future trends to watch for:

• Continued recovery and growth post-pandemic
• Impacts of global economic conditions on international travel
• Investments in sustainable and eco-friendly tourism
• Expansion of the tourism market to include new and diverse segments