Need more tourism investment: Minister Uno

By TIN Media | Asean News Published 1 month ago on 5 June 2024
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INDONESIA:

Tourism and Creative Economy Minister Sandiaga Salahuddin Uno on Wednesday highlighted that Indonesia needs more investment in the tourism sector.

At the 2024 Tourism Investment International Forum in Jakarta, he noted that Indonesia's tourism sector recorded US$3.604 billion in investment in 2023.

However, 80 percent of the investment was concentrated in star-rated hotels, restaurants, cafes, and fitness centers.

Meanwhile, the realization of investment in the tourism sector in the first quarter of 2024 reached US$943.40 million of the target of US$3 billion.

The three business sectors that received the most foreign direct investment (FDI) during the first quarter were star-rated hotels, restaurants, and apartment hotels.

"We need more investment in the ecosystem, including the development of sustainable tourism products and inclusive community-based tourism," he said.

The minister informed that Indonesia needs more than US$15 billion to US$20 billion in investment to support the realization of sustainable tourism in the country.

Uno expressed optimism that the Tourism Investment International Forum, held on June 5–6, 2024, will attract more investors from within and outside the country to invest in Indonesia's tourism sector, not only hotels, restaurants, and cafes, but also supporting infrastructure for tourism.

Indonesia has been recognized as the best Muslim-friendly tourist destination in the world by the Global Muslim Travel Index (GMTI) in 2023 and 2024.

Its position in the Tourism Development Index also rose significantly in 2024 from 32nd to 22nd.

We believe that we will be able to score three times more investment in these sectors," the minister said.


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