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
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

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
A Yen for Murder
Police Arrest 25-Year-Old Freelance Balinese Driver in Brutal Killing of Elderly Japanese Couple
(9/19/2017)
Warning Levels Increased for Mount Agung
Breaking News: Mount Agung Status Upgraded to ‘Siaga – Level 3’ - Second Highest Level of Alert.
(9/18/2017)
Caught in the Act
Two Bulgarians Arrested in Lovina, North Bali, Robbing an ATM Machine
(9/18/2017)
St. Regis Bali Resort Turns Nine
St. Regis Bali Resort Offers Nine Courses By Nine Chefs At The Cloud Nine to Celebrates Turning Nine on October 27, 2017
(9/18/2017)
London to Jakarta in a Single Leap
Garuda Offers Thrice Weekly Non-stop London to Jakarta Flights Starting October 31, 2017
(9/18/2017)
An End to Bali Connection to Townsville, Australia
Jetstar to Halt Townsville to Bali Flights on March 21, 2018
(9/18/2017)
Honors for Bali’s Governor
Governor Receives Award from Retired Police Officers Association for Service to the Nation
(9/18/2017)
Keep it Green, Keep it Local
Bali Restaurateur Chris Salans Works with Bali Farmers to Maximize the Use of Local Produce and Food Ingredients
(9/18/2017)
Sanur First! Traveloka Maybe Never!
Indonesian Online Travel Company Traveloka Roundly Condemned for Desecrating Panorama on Sanur Beach in Bali
(9/18/2017)
Airborne Temples and Volcanoes
AirAsia Indonesia Adopts New Livery Design for its Airbus 320s Emulating Indonesian Iconic Destinationsns
(9/18/2017)
Chinese Shoppers Booming in South Bali
Chinese Tourist Boosting Shopping Visitors to ITDC’s Bali Collection
(9/18/2017)
More Choices Between Bangkok and Bali
Thai Lion Air Commences Daily Flights Between Bangkok and Bali
(9/18/2017)
All [News]!