Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · A World of Economic Woe Touches Bali
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

A World of Economic Woe Touches Bali

Bali by the Numbers: Balidiscovery.com Deciphers Economic Trends and their Possible Impact on the Island's Tourism.


(12/13/2008)

The daily dose of television and print coverage on the world's deteriorating economic condition has many people in Bali's tourism industry concerned on what lays ahead for 2009.

In an effort to address some of this confusion, we've prepared a graphic presentation of what's happening in the economies of a number of key source markets shown on balidiscovery.com.

That date presented shows:

● Most of the member countries of the European Union are now in recession, a situation likely to become universal among all countries comprising the EU as one-by-one they cross the "barrier" threshold of two consecutive quarters of a declining Gross Domestic Product growth needed to be "officially" declared in a state of recession.

● China is unlikely to be able to sustain its 9% rate of GDP growth as factories close in response to lower demand from their traditional markets in Europe and the U.S.. This will result in reduced growth in China as that mega-economy slides into recession.

● While no country is "recession proof," the figures suggest that Southeast Asian countries are weathering the current economic crisis better than their Europeans and American counterparts. However, a prolonged recovery in Europe or the U.S.A. will, over time, lead to a cascading economic downturn in Southeast Asia's regional economies.

● The Australian market, Bali's second most import source of foreign visitors, may manage to escape recession as the Rudd government is spending heavily to buoy consumption. Australia's insulation and isolation from the larger woes of the rest of the world's economies won't, however, remedy the declining value of the Australian dollar, likely to curb the ability of its citizens to undertake a holiday abroad.

● Similarly, careful attention should be paid to our analysis of the shift in the home currencies of Bali's main markets against the U.S. Dollar over the last 12 months. Bali's tourism products are almost universally priced in U.S. Dollars which has made the Island substantially more expensive for most countries whose currencies have generally devalued against the greenback. Notable exceptions to this trend are Japan and Mainland China who have both seen their currencies strengthen against the dollar.

● Tourism observers will be keeping a careful watch on the pricing behavior of Bali hotels as we enter 2009, many of which have increased tariffs by as much as 25% following strong occupancies for most of 2008. Those increases in combination with shifts in foreign exchange rates against the dollar have made the cost of a hotel room increase by the following amounts, depending on country of origin: South Korea (+86%), U.K. (+71%), Australia (+68%), India (55%), Euro spending Europeans (+41%), and Malaysia (+35%). Conversely, a strengthening of the Yen against the U.S. dollar means a 25% price hike in a Bali hotel room is costing the Japanese traveler only 3.5% more than it did one year before.

● Historical models give cause for concern should the current economic circumstance turn into a world-wide recession where a majority of major economies experience a prolonged recessionary downturn. Past behavior suggests that countries faced with such a situation are politically compelled to introduce restrictive trade and commerce barriers that may, in fact, prolong recovery and deepen the economic downturn.



Click to enlarge


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Support Bali’s Culture
Bale Banjar Culture Club Featuring Bali-Based Author Diana Darling on Sunday, June 10, 2018
(5/21/2018)
And Never the Twain Shall Meet
‘Debussy, Between East and West ‘ Concert Was Not at Advertised, But a Memorable Musical Evening by Any Measure
(5/20/2018)
Welcoming the World Cup with Song
Bali Community Choir to Appear at World Cup Celebration at Warung Mina in Kerobokan on Saturday, June 2, 2018
(5/20/2018)
Dining and Drinking Unequalled on Bali’s Kuta Beach
Unbeatable Quality and Value for Money at ‘Seafood Martini Friday’ Every Week at Sheraton Bali Kuta Resort Poolside
(5/20/2018)
The Bad News is the Good News
Bali by the Numbers: Q1 2018 Arrival Figures Show Bali Tourist Arrivals Back on Track After Temporary Setback Caused by Mount Agung
(5/20/2018)
Sad Adieu to Bamboo
Fire Destroys Major Bamboo Furniture Factory in Kusamba, Bali
(5/20/2018)
In the Event of a Water Landing
Four Young Misbehaving Passengers on Semarang to Bali NAM Air Flight Returned to Base
(5/20/2018)
Beyond Bali to Timor Leste
Timor Leste Wants Bali to Become Gateway for Tourism and Training Center for 1st New Sovereign State of 21st Century
(5/20/2018)
The Indian Market is Calling
“Pacto Goes to India 2018” – Travel Trade Show to the World’s 2nd Largest Nation
(5/20/2018)
Ocha for Ni and Tea for Two
Sakura Tea Ceremony and Sumo Wrestling Event at Hotel Nikko Bali Benoa Beach on June 10, 2018
(5/20/2018)
In Dire Straits
No Casualties Reported as Bali-East Java Car and Passenger Ferry Burns
(5/20/2018)
Get Under It!
New Underpass at Entrance to Bali’s Airport to Open in August 2018
(5/20/2018)
All [News]!