Tourism will get a new boost. Indonesian government has plan to create “10 New Bali” which will open up vast opportunities for investors in tourism and infrastructure projects.
Investments from Singapore into Indonesia has been increasing. Last year, the figure hit US$9.2 billion, an increase of 55 % from 2015.
Under the blueprint, the Indonesia government has earmarked 10 destinations for development: Lake Toba, Tanjung Kelayang, Tanjung Lesung, Kepulauan Seribu & Kota Tua Jakarta, Borobudur, Bromo-Tengger-Semeru, Mandalika, Labuan Bajo, Wakatobi and Morotai. By 2019, these places will draw 10 million tourists in total annually.
There will be 120,000 hotel rooms, 15,000 restaurants, 100 international recreational parks and 100 diving operators will be added to the destinations, said Indonesia’s Tourism Minister Arief Yahya, who was speaking at the Singapore-Indonesia Investment Forum according to The Jakarta Post.
In total, the Indonesia government is seeking US$20 billion (S$26.8 billion) in investment for the initiative, with half of it going to public infrastructure investment.