“I have conveyed my prediction to the President [Joko 'Jokowi' Widodo]. Tourism will become the core business of our economy,” the minister said in Mataram, West Nusa Tenggara, Monday night.

Arief said during a meeting of tourist guides from all over the country in Mataram that tourism was the easiest and least costly sector to contribute to gross domestic product (GDP), foreign reserves and creating job openings.

Currently, he said, tourism made up 10 percent of total GDP and was the fourth biggest contributor to foreign reserves.

“Tourism is the fourth [biggest] contributor to foreign reserves. Although the value is 9.3 percent, compared to other industries, tourism has seen the highest growth in foreign reserve contribution, whereas others like oil and gas, coal, and palm oil registered negative growth,” he said.

Arief said the investment needed to achieve the foreign reserves targeted was only 2 percent. “Creating Rp 100 million [US$7,600] in foreign reserves, for example, the investment needed would only be Rp 2 million,” he went on. (evi)

Popular

BI surprises with third consecutive rate cut as Fed move looms

Explainer: Social media as town square, battleground in Indonesia’s protests

Taiwan raises alert over cancer-causing chemical in Indomie