The share of travel services in commercial service exports in Indonesia showed a consistent upward trend from 2013 to 2019, peaking at 54.71% in 2019. The COVID-19 pandemic drastically reduced this figure to 23.54% in 2020 and 3.86% in 2021. The subsequent recovery saw a rebound to 29.55% in 2022 and stabilizing forecast at the same level through 2028.
Year-on-year variation shows:
- A sharp decline between 2019 and 2021 due to the pandemic.
- A significant rebound in 2022 before stabilizing in 2023.
The Compound Annual Growth Rate (CAGR) for the last five years stands at 0%, indicating no growth is forecasted during this period.
Future trends to watch for include the potential impacts of geopolitical stability, changes in international travel policies, and recovery speed post-pandemic. Additionally, shifts in consumer behaviour and advancements in digital travel services could shape market dynamics.
