Source: Bali Statistic Centre
Bali’s total economy in the third quarter of 2019 measured by Gross Regional Domestic Product at current prices recorded at Rp. 64.86 trillion and based on the constant prices (ADHK) recorded at IDR41.56 trillion ($296,000,000).
In June, the administration of President Joko Widodo announced that the limit for luxury tax of 20 per cent for houses and flats would be increased to 30 billion rupiah (US$1.4 million) from 20 billion rupiah, effectively excluding many transactions in the high-end property market.
Jakarta already allows foreigners to own landed property on a 30+20+30-year scheme. Foreigners are initially allowed to own the property for 30 years, with a subsequent extension of 20, followed by another 30 years. Check out some of Bali Property Investment with this scheme here.
Bali’s economy in the third quarter of 2019 (year on year) recorded growth of 5.34%, experiencing a decreased when compared to the same period in the previous year which recorded 6.15%. From the field of business, the highest growth was achieved by Category G (Wholesale and Retail Trade; Car and Motorcycle Repair) which recorded a growth of 9.99%.
On a quarter to quarter basis or if compared to the previous quarter, Bali Economic growth in the third quarter of 2019 recorded growth by 3.12%. In terms of business, the highest growth achieved by registered Category B (Mining and Quarry) which grew up to 9.85%. Meanwhile, in terms of expenditure, the highest growth was recorded in the subtracting component, External Imports Domestic, and Inter-Regional at 9.11%.
The economic structure of Bali in terms of business sectors is still dominated by Category I (Provision of Accommodation and Food and Beverage) which accounted for 23.59%. While the largest contributions in quarter III-2019 in terms of recorded expenditure components is the Export Component 55.21% followed by Consumption Expenditures Households 47.57%.
The arrival of foreign tourists (tourists) to Bali in September 2019 were 590,565 visits, with foreign tourists who came through the airport as many as 590,151 visits and through the seaport 414 visits. The number of foreign tourists to Bali Province in September 2019 decreased 4.59% compared with August 2019 record (month to month) but increased for 6,24% compared to September’s 2018 record (year to year).
According to nationality, the most recorded foreign tourists come to Bali in September 2019 are from Australia (21.07%), China (16.67%), United Kingdom (5%), Japan (4.97%), and India (4.66%).
Foreign tourists visit during 2019 dominated by tourists from China (20.09%), Australia (19.46 percent), India (5.80%), United Kingdom (4.63%), the United States (4.39%), Japan (4.20%), France (3.47%), South Korea (3.26%), Germany (3.22%), and Malaysia (2.72%).