Banking on Spending

IMF-World Bank Conference in October Expected to Generate US$68 million for Indonesian Economy
The Jakarta Post reports that the National Development Planning Agency (Bappenas) is estimating that October’s 2018 International Monetary Fund (IMF) – World Bank Conference will generate nearly US$ 68 million in earning tourism earnings

Bappenas projections said 95.2% of the US$68 million would come from foreign exchange with the remaining 4.8% from domestic spending.

The largest chunk of spending would see Rp. 569.9 billion spent on accommodation followed by Rp. 190.5 billion on food and beverage and transportation at Rp. 36.1 billion, entertainment Rp. 57 billion and shopping at 90.2 billion.

Indonesia is spending an estimated Rp. 1.1 trillion on hosting the IMF-World Bank Conference.