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Indonesia’s Travel & Tourism Sector to Surpass IDR 1,131tn in 2024: The World Travel & Tourism Council

The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) projects a record-breaking year for Indonesia’s Travel & Tourism sector, with domestic visitor spending expected to reach a record IDR 344tn, surpassing 2019 levels by 9.7%. International visitor spending is also set to rise to IDR 291tn (USD 19.1bn), slightly below the 2019 levels by 5.4%.

The The World Travel & Tourism Council’s research forecasts that jobs in the sector will exceed 2019 levels, reaching over 12.5 million. By 2034, the sector is anticipated to contribute nearly IDR 1,828tn annually to Indonesia’s GDP, representing 5.3% of the economy, with employment projected to exceed 17 million, meaning one in nine people will work in the Travel & Tourism sector.

This year’s data from the The World Travel & Tourism Council indicates a sector brimming with opportunities, with metrics such as economic contribution and domestic visitor spending poised to set new records. The sector’s contribution to Indonesia’s economy is expected to surpass IDR 1,131tn this year, reflecting a robust 12.3% increase from the previous year and a 7.7% rise over the 2019 peak, contributing 5.1% to the national GDP.

Julia Simpson, The World Travel & Tourism Council President & CEO, commented on this growth: “The outstanding growth of Indonesia’s Travel & Tourism sector is a clear indicator of the government’s strategic vision and commitment to the sector. Its policies have fostered an environment conducive to investment and development, significantly enhancing Indonesia’s status as a premier travel destination.”

Indonesia’s Travel & Tourism sector demonstrated strong recovery last year, growing 29.5% to nearly IDR 1,008tn, representing 4.8% of the national economic output. The sector created more than 543,000 new jobs, reaching more than 12 million, just 2.3% below 2019 levels. International spending saw notable increases last year, rising 121.2% to reach IDR 238tn, while domestic spending grew 8.2% to IDR 321.4tn.

Indonesia presents an open and inviting climate for tourism investment, offering numerous advantages for investors.