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 · Rupiahís Rapid Decline
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

Rupiahís Rapid Decline

Decline in Rupiah is a Double-Edged Sword for Baliís Tourism Economy


Bali News: Bali, Indonesia, Dwi Pranoto, Bank Indonesia, Tjokorda Oka Artha Ardana Sukawati, Cok Ace, Ida Bagus Ngurah Wijaya, Indonesian Tourism Industry Association for Bali, GIPI-Bali, exchange rates, U.S. Dollar, Indonesian rupiah
Click Image to Enlarge

(9/1/2013)

The rapid decline in the value of the Indonesian Rupiah against the U.S. Dollar and a host of other currencies is presenting a myriad of challenges to Bali and its tourism industry.

 
That most of the starred hotels in Bali are priced in U.S. dollars is a double-edged sword. On the one hand, hotels pricing in dollar will enjoy something of a windfall in income against their Rupiah-based expenses. While, on the other hand, Bali hotels will generally become more expensive to the vast majority of their customers who do not earn their income in U.S. dollars.
 
Quoted in The Bali Daily (The Jakarta Post), Ida Bagus Ngurah Wijaya, head of the Indonesian Tourism Industry Association for Bali (GIPI-Bali), acknowledge the potential boost in hotel incomes from a strengthening dollars, but also warned that the cost of imported goods used by hotels and restaurants would also certainly increase.
 
The head of the Bali Chapter of the Bali Hotel and Restaurant Association (PHRI-Bali), Tjokorda Oka Artha Ardana Sukawati (Cok Ace), spoke of the many “bitter pills” that Bali’s tourism industry has had to swallow in recent months in the form of increased fuel and energy costs. He also highlighted the coming 2014 election for the presidency of Indonesia and House of Representatives, saying the national economic condition will be largely dictated by the developing political condition.
 
In the light of all this uncertainty, Cok Ace outlined the course ahead, saying: “What we need to do is to strengthen our promotional activities, improve our tourism products and also upgrade facilities at our tourism sites.” 
 
Dwi Pranoto, the head of Bank Indonesia’s Bali Office foresees the strengthening dollar as having a positive impact on Bali’s exports as well as tourism. Said Pranoto: “It can be considered as a blessing for exporters and the tourism sector. But for the island’s general economy,  that will slightly slow its usually robust growth.” 
 
Bank Indonesia predicts Bali would end the current year with a growth rate of between 6.6 to 7.1%. Advising a more cautious approach, Pranoto said, “We have had to evaluate and lower the economic growth forecast to between 6 and 6.5 percent.” 
 
IThe Bank Indonesia executive, Pranoto, said: “However, we must be optimistic, hoping that the island’s tourism sector will remain a powerful catalyst for its economy.”


© 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
Showdown Ahead?
Groundswell of Opposition to Benoa Bay Reclamation Grows with Long March Through Downtown Denpasar on Sunday, May 22, 2016
(5/23/2016)
Something Fishy Going On
Two Celebrity Chefs Join Forces for a Lunchtime Seafood Fest in Ubud on Friday, May 27, 2016
(5/23/2016)
A Royal Obligation to Serve
Denpasar King Seized by Prosecutors to Begin Serving a 2.5 Year Prison Sentence for Fraud
(5/23/2016)
Pre-Dawn Fatal Crash
Melbourne Man Dies in Collision with Rubbish Truck
(5/23/2016)
And if Dreams Come True . . .
Join an Enchanted Day to Teach Children How to Make Fairy Houses on Sunday, May 29, 2016 at Trans Resort Bali
(5/23/2016)
Just a Month Away
Bali and Beyond Travel Fair in Final Count Down to Opening on June 22, 2016
(5/23/2016)
Stop Only Outside of the Box
Denpasar, Bali Police Introducing Yellow Box Junctions to Reduce Traffic Gridlock
(5/23/2016)
Ate Like Primate
Bali Zoo Offers Breakfast with the Orangutan
(5/23/2016)
The Indonesian Tourism Bucket List
TripAdvisor 2016 List of Most Popular Tourism Landmarks Dominated by Bali
(5/23/2016)
Avoiding Mayhem and Disaster
Bali Officials Study Disaster Mitigation In Darwin, Australia
(5/23/2016)
In Xanadu
Australian Property Developer Sent to Jail in Bali for Property Fraud
(5/23/2016)
Retaliation or Cost Saving
Lion Air Suspends 227 Flights Over One Month Period
(5/23/2016)
All [News]!