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How to Avoid Depression

Leading Bali Economist Suggests How Bali Can Avoid Fallout from World Economic Downturn


Bali News: Bali, Indonesia, Global financial crisis, Universitas Warmadewa, Prof. Dr. I Made Sukarsa, Baliís economy, U.S.A., Europe, diversifying markets, domestic market
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(12/16/2011)

As reported by Bisnis Bali, the global economic crisis currently underway in Europe and the U.S.A. are predicted to also have a negative impact on Bali’s economy. A senior educator and eoconomist warns that the tourism sector in Bali is predicted to experience a depression in 2012 as world buying power declines.

The Rector of Universitas Warmadewa, Prof. Dr. I Made Sukarsa, made these dire predictions recently, saying, “international tourist visits from the U.S.A. and European nation will drop next year.”

Sukarsa see the global economic crisis has the potential of almost bankrupting some European nations and, as a result, the crisis is certain to be felt in Bali. He portends that the problems in the European nations will cripple other portions of the world. He also points out that a number of nations are predicting lower growth rates in 2012. “This is a signal that the world economy will slow down next year,” he explained.

Because of this, Sukarsa predicts the economy of Bali will grow slower in 2012 and exports from the island will also slow. Adding, “my prediction is that the economy will grow around 6% next year.”

When asked about the solution for overcoming these dismal predictions, Sukarsa said Bali must diversify it markets. Next year, Bali needs to develop markets outside of Europe and the U.S.A., insisting that Asia countries must become the new focus for developing markets for Bali.

He also suggested that the domestic market must be optimized. If this succeeds, he offers, the economy of Bali will continue to experience significant growth in 2012.


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