Bali Beyond and Travel Fair 2024 Expected to Generate IDR 8 Trillion in Transactions
The Indonesian Travel Agent Association (Asita) Bali notes that transactions at the 2024 Bali Beyond and Travel Fair (BBTF) could potentially reach IDR 8 trillion due to the increasing diversity of tourism businesses participating.
“In 2023, we recorded IDR 6.7 trillion. This is a significant transaction potential that will continue to grow in the future,” said Asita Bali Chairman Putu Winastra during the opening of the 10th BBTF in Nusa Dua, Badung Regency, Bali, on Wednesday.
He explained that this year’s exhibition includes 370 buyers from 45 countries, including European, African, Australian, and United States countries.
Meanwhile, 282 sellers of tourism packages, including businesses from eight countries such as Nepal, Timor Leste, China, the United States, Malaysia, South Africa, Iran, and Indonesia, are participating.
Additionally, tourism businesses from 11 provinces across the country are also participating as sellers, including those from DKI Jakarta, NTB, West Java, Central Java, Riau Islands, Yogyakarta, NTT, Bangka Belitung, South Sulawesi, and East Kalimantan.
These businesses include not only travel agencies but also a variety of enterprises in the fields of meetings/conferences (MICE), event organizers (EO), wedding organizers (WO), and corporate segments.
This tourism exhibition promotes the potential of the country’s creative economy and tourism and encourages visits from quality tourists.
Meanwhile, the Ministry of Tourism and Creative Economy (Parekraf) targets foreign tourist visits in 2024 to reach 17 million.
This number increases from the 2023 realization of 11.68 million visits.
Specifically for Bali, foreign tourist visits in 2023 reached 5.2 million, with a target of 7 million visits in 2024.
The 2023 realization has not yet reached the pre-COVID-19 pandemic period in 2019, which saw 6.4 million foreign tourists.
Rising tourism sprouts property market growth
The rising tourism industry significantly contributes to the Bali property market, creating lucrative opportunities for investors. With the increasing number of visitors, the demand for accommodations and vacation homes is on the rise, making real estate in Bali for sale an attractive investment option.
The influx of tourists, especially those looking for extended stays, fuels the demand for Bali property. As more people experience the island’s unique charm, many decide to buy property in Bali as a second home or investment. The trend of foreigners seeking Bali property for sale has led to a surge in the development of luxury villas, beachfront properties, and resort-style residences.
Real estate developers are keen to cater to this growing demand by offering a wide range of properties, from high-end luxury villas to more affordable options. The booming tourism industry not only boosts rental yields but also enhances the overall value of Bali real estate, making it a compelling market for both domestic and international investors.
The positive outlook for Bali’s tourism and real estate sectors indicates a continued growth trajectory. Investors looking to capitalize on this trend can find numerous opportunities in the Bali property market, ensuring a promising return on investment in the years to come.
