Indonesia is the fourth most populous country in the world, with a population of almost 260 million. Its economic stability in recent years has also made it a hotbed for investment, both local and foreign. Its government has recognised this potential and has introduced measures over the years that encourage foreign investment, while also trying to improve the various regulations involved.
Indonesia is expected to become the 8th largest economy in the world before 2030, or the 4th largest if taking into account purchasing power parity. With around 260 million inhabitants, a middleclass expected to increase to 141 million before 2020 and continuing growth rates of around 5-6 per cent over the last ten years, Indonesia represents a huge potential for foreign companies.
The current ongoing economic shift from West to East has generated significant and increasing interest for giant emerging economies such as China and India. Not far behind these two giant economies, Indonesia – a country we label as ‘sleeping giant’ – has fully recovered from the Asian Financial Crisis that emerged in the late 1990s and has been showing continuous robust macroeconomic growth for almost a decade.
Business travelers who come for MICE purposes are normally those who are opinion leaders, business CEOs, professionals, and government representatives. Such conventions are also usually conducted during low-season.
As one of the most exotic archipelagos with so much to offer where its tourism has always been one of its driving forces, when it comes to international meeting industry, the country is firmly ready for business.