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Rising stress levels generate demand for travel, leisure
The shift in consumption patterns is also changing the face of the economy.
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An illustration of airport. (Shutterstock/File)
S
tatistics Indonesia (BPS) recently released the national accounts data for the second quarter of 2018. The key takeaways were that gross domestic product (GDP) growth in the second quarter ( Q2 ) was 5.3 percent — slightly higher than growth outcomes over the past couple of years.
The growth in Q2 was higher than growth in the previous quarter and according to the BPS it was mainly due to holiday spending associated with the Idul Fitri holidays as well as an increase in spending by the government.
This is positive news especially as household consumption growth has been stable for the past few years.
However, given that the festive period typically provides a boost to consumption, the GDP growth outcome is not that surprising. Moreover, if we take a deeper look at consumption behavior in Indonesia, an interesting pattern appears to be emerging.
