Tourism and hotel market in Indonesia to grow by USD21B+
Wednesday, 10th August 2022
Source : Technavio

The tourism and hotel market size in Indonesia is set to grow by more than USD21 billion from 2021 to 2026, at a CAGR of 11.81% according to Technavio.

The increasing preference for local and authentic experiences is one of the key drivers supporting the tourism and hotel market growth in Indonesia.

Some tourists focus more on exploring local communities and their cultures, which is considered a critical aspect of Indonesia's tourism and hotel market. These tourists prefer buying local products instead of souvenirs and undertaking adventure trips in public transport instead of taxis.

Also, having dinner in a restaurant that uses zero-kilometer ingredients, including local, low-impact primary ingredients, such as meat, cheese, and honey. This new form of tourism is expected to become popular among tourists as they are becoming more aware of the environmental impact of tourism.

This will fuel the market's growth in focus during the forecast period. However, the factors such as climate change and unexpected weather developments may impede market growth.

The tourism and hotel market in Indonesia is fragmented and the vendors are deploying growth strategies such as price, government licensing, service portfolio, quality, brand, and safety measures to compete in the market.

Aryaduta Aryaduta Hotel Group, Double-Six Luxury Hotel Seminyak, Grandmas Plus Hotel Airport, Katamaran Hotel and Resort, Kempinski Hotels SA, Le Eminence Hotel Convention and Resort, Pesona Alam Resort and Spa, Pullman Ciawi Vimala Hills Resort Spa and Convention, Puri Sari Beach Hotel, and Shanghai Jin Jiang International Hotels Group Co. Ltd. are some of the major market participants.

The competitive scenario provided in the Tourism And Hotel Market In Indonesia report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

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