Indonesia Targets IDR 710 Trillion in Tourism Foreign Exchange by 2029

Indonesia is targeting tourism foreign exchange to reach US$39.4 billion, or approximately IDR 710.7 trillion (at an exchange rate of IDR 18,000), by 2029. This was stated by the Secretary General of the National Council for Special Economic Zones (SEZ), Rizal Edwin Manansang, during the inauguration of the Sira Village Grand Outlet Bali at the Kura Kura Bali SEZ, Serangan Island, Denpasar, on Friday.

“In line with national economic growth targets, the tourism sector’s contribution by 2029 is projected to reach 5 per cent of GDP, with foreign exchange forecasts of US$39.4 billion,” Edwin explained. He noted that tourism plays a vital role in driving national economic growth, and SEZs in the tourism sector are instrumental in creating a more conducive and competitive investment ecosystem.

“Kura Kura Bali SEZ integrates high-quality tourism, the creative economy, lifestyle, innovation, education, and sustainable business development,” said Edwin. He added that the presence of the Sira Village Grand Outlet Bali could strengthen Bali’s appeal as a world-class retail and lifestyle destination, provided that development prioritises sustainability, Balinese cultural preservation, and local community empowerment.

Edwin revealed that total investment across all SEZs in Indonesia has reached IDR 353 trillion, employing approximately 280,000 people. The Sira Village Grand Outlet Bali, spanning 4.8 hectares, features hundreds of products ranging from local MSMEs to renowned international brands. Tantowi Yahya, President Commissioner of Kura Kura Bali SEZ and President Director of Sira Village, stated that the mall was designed to evoke a village atmosphere, offering a relaxed space for visitors to enjoy before departing for the airport.