Tourism may become largest forex earner<\/p>\n
JAKARTA (JP): The government predicts that the tourist
\nindustry will be the country's largest foreign exchange earner by
\nthe end of the Sixth Five Year Development Plan period in 1999,
\nfive years ahead of the previous prediction.<\/p>\n
Minister of Tourism, Post and Telecommunications Joop Ave told
\nreporters after a hearing yesterday with Commission V of the
\nHouse of Representatives, for tourist and transportation, that he
\nbelieved the estimation is based on the growth of the tourism
\nindustry over the past few years, compared with the export growth
\nof oil and gas, textiles and timber, the country's current
\nlargest foreign exchange earners.<\/p>\n
The government is committed to attracting at least 11 million
\ntourists to Indonesia per annum, with total spending of $15
\nbillion by 2005.<\/p>\n
Data from the Central Bureau of Statistics show that the
\nnumber of tourist arrivals increased by an average of 19.72
\npercent per annum between 1990 and 1995, while the country's
\nrevenue from their spending rose 26.67 percent a year.<\/p>\n
In 1990, 2.17 million foreign tourists visited the country,
\nspending $2.1 billion. In 1995, the number of tourist arrivals
\nrose by 98.58 percent to 4.32 million, while spending rose to
\n$5.22 billion.<\/p>\n
The data also show that the tourist industry rose from the
\nfifth largest non-oil foreign exchange earner in 1995 to third in
\n1992. In 1985, the tourist industry, with foreign exchange
\nrevenue of $525 million, ranked fifth behind timber with revenue
\nof $1.19 billion, rubber with $726 million, textiles with $559
\nmillion and coffee with $556 million.<\/p>\n
Last year, Indonesia earned $9.43 billion from the exports of
\noil and gas, $5.58 billion from textiles and $4.57 billion from
\ntimber.<\/p>\n
About 6.5 million foreign tourists are expected to visit the
\ncountry in 1998, spending more than $8.9 billion.<\/p>\n
The published foreign exchange revenue from the tourist
\nindustry, however, is a gross figure which must be cut by about
\n50 percent to compensate for the spending of Indonesians
\ntraveling abroad.<\/p>\n
Data from the International Monetary Fund, compiled by the
\nresearch and development agency of the Ministry of Tourism, Post
\nand Telecommunications show that Indonesia received a net revenue
\nof $1.96 billion from 3.06 million visitors who spent a total of
\n$3.27 billion in the country in 1992.<\/p>\n
Indonesians going abroad in 1992 were estimated to spend $1.31
\nbillion in foreign countries.<\/p>\n
The data for 1993 was 3.4 million tourist arrivals spending
\n$3.27 billion. Total foreign exchange earned from the tourist
\nindustry in 1993 exceeded $2.39 billion, while Indonesians going
\nabroad in that year spent an estimated $1.59 billion.<\/p>\n
In 1994, 4.06 million foreign tourists visited the country
\nspending $4.78 billion. But the country is estimated to get a net
\nrevenue of only $2.88 billion because there were about two
\nmillion Indonesians going overseas, spending some $1.9 billion
\nthat year. (icn)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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