Foreign Exchange from Tourism is Projected to Reach US$18 in 2019

Jakarta, InfoPublik - Tourism Minister Arief Yahya projected that Indonesia’s tourism sector will contribute US$17.6 to 18 billion to the country’s foreign exchange, surpassing crude palm oil (CPO) which has been known as the country's largest foreign exchange earner.

After inaugurating Administrative Officials, Supervisory Officials, Functional Officials, and Authority Board Officials in Tourism Ministry at the ministry’s Balairung Soesilo Soedarman, Jakarta, on Tuesday (5/14), Minister Arief Yahya expected 18 million foreign tourist arrivals by the end of 2019 with foreign exchange that is well above Crude Palm Oil. "I have informed this number to President Joko Widodo when he asked me about the tourism projection for this year,” he said.

The Minister explained that the projection of 18 million foreign tourist arrivals demonstrates a twofold increase of Indonesia’s tourism growth in the past five years or above 20 percent in average per year, despite it remains below 20 million as the target for the year.

"When I first served the position of tourism minister back in 2015, the number of tourist arrivals was recorded at 9 million. The figure soared to 18 million or increased by twofold over the past five years," he said.

Meanwhile, in terms of foreign exchange earnings, the tourism sector is projected to reach US$17.6 billion to US$18 billion this year. The figure surpassed CPO, which were listed as the country's largest foreign exchange earner last year.

Minister Arief Yahya said that the previous year’s foreign exchange earnings from the tourism sector were equal to foreign exchange earnings from CPO when foreign tourist arrivals reached 16.4 million with foreign exchange earnings amounted to US$16.1 billion. Whereas foreign exchange from coal remained in the third position.

“Oil and gas sector was thriving in the 1980s. We called the two largest foreign exchange as oil and gas sector and non-oil and gas sector. Now, we changed the term into tourism sector and non-tourism sector,” Minister Arief Yahya said.

Reporter: Untung S

Translator: Wisnu Wardoyo